Startup GreyOrange, that provides AI cloud software and robotic automation has raised $110 million to advance technological leadership, fund global expansion, and further the adoption of its products.
The startup will further use the debt funding from BlackRock to rise its human talent in specialised areas, add 300 talents across customer success, sales, marketing, product, and engineering teams, with a special focus on roles that improve customer experiences.
GreyMatter, the company’s software, employs machine learning to optimise inventory movement in warehouses, distribution centres, and retail stores. As part of its omni-channel fulfilment solution, the company also released gStore, a mobile-first SaaS (software-as-a-service) app for managing in-store inventory.
The funding was rasied as part of its growth funding round led by Peter Thiel-backed Mithril Capital Management. In addition to Mithril Capital, returning investors also took part in the round. The round included debt financing from funds and accounts under management by BlackRock.
“We orchestrate fulfillment and optimise inventory in a complex global supply chain environment for more companies that ship millions of items each day than any other player in the market outside of Amazon,” said Samay Kohli, CEO and Co-founder at GreyOrange.
GreyOrange to build new suite of Software, Predictive Analytics
Kohli added, “This growth financing enables us to rapidly deliver our premium solution to meet the expansion demand from existing customers, rapidly onboard our high volume of new customers, reach new partners, and accelerate our unique product roadmap with an expanded suite of software solutions and predictive analytics.”
Founded in 2011 by Samay Kohli and Akash Gupta, GreyOrange offers fulfillment platform to retailers which provides adaptive learning and continuous process.
The startup works with the likes of Walmart and H&M.
GreyOrange had last raised $140 million in a Series C funding round in 2018 from Mithril Capital and Flipkart co-founder Binny Bansal, among others.
GreyOrange is the leading omnichannel fulfillment platform that gives companies choice, flexibility and resilience in driving digital supply chain transformations. The GreyOrange platform gets the right product to the right person at the right time. GreyOrange gives organizations a competitive advantage by increasing productivity.
