Robotics firm GreyOrange has secured a funding of $30 million led by Tiger Global Management along with participation from its existing investor Blume Ventures.
Raised amount will be used to develop new products and expand company’s international presence into Asia Pacific, Middle East and Europe.
Founded in 2011 by Wolfgang Hoeltgen, Akash Gupta and Samay Kohli, the company is in business of automating warehouses. Presently the company has more than 300 employees, two-third of the team is in engineering. The company claims to have 90% market share of India’s warehouse automation market and it powers over 180,000 square feet of warehouse, as reported by ET.
The company builds two products – The Sorter and the Butler. The Sorter is a high-speed system that consolidates orders and routes parcels. By Diwali, as the company claims, it would have installed sortation capacity of 3 million parcels per day. The Butler is an order-picking system that is tailored for high-volume, high-mix orders characteristic of ecommerce and omni-channel logistics fulfilment.
In April 2014, GreyOrange had raised its Series-A round of funding from Tiger Global and Blume Ventures. It has offices in Hong Kong, Gurgaon, Mumbai, Delhi, Bengaluru and Hyderabad. And its customers include Flipkart, Amazon India, Jabong, Delhivery, GoJavas, Aramex, DTDC and Kerry Logistics.