Blue Ventures today announced a Series D funding of its Fund 1 portfolio company, GreyOrange. The VC revealed the company secured $135 million to propel its growth trajectory.
Greyorange, combines AI-driven cloud software and smart robotic automation to overcome inadequacies in existing warehouse technology and capitalize on modern market developments.
Akash Gupta, Co-Founder and CEO, GreyOrange, said “As we scale, we recognize that keeping the needs of our customers at the center of our product and solution roadmap has proven essential for our customers. This Series D funding amplifies our commitment to leadership within the AI and robotics orchestration space.”
The Robotics and AI Softward development firm was founded to solve – Need for automation, it claims today only 10% automated, Labor shortage, high churn and high wages; further the industry requires efficiency gains, Larger, more complex supply chains. There is also retailer’s demand thus increasing omnichannel capability; the challenges omnichannel faces toward integration.
GreyOrange is a portfolio company of Blume Ventures
Karthik Reddy, co-founder and partner of Blume Ventures, commented : GreyOrange is one of India’s proudest deep tech exports. Despite a massive shift in how warehouse automation is being adopted in the US, they’re nimbly shifting their business model for the best of Fortune500 retail & commerce companies, which helps them gain customer confidence and win market share. We think it can be the first billion $ revenue company and are proud to further back GreyOrange’s growth aspirations, along with our existing partners and Anthelion.”
The funding also includes the existing portfolio of investors which includes Mithril Capital, 3State Ventures, and Blume Ventures, the warehouse and retail automation company added Anthelion Capital to its cap table.
