Grey­or­ange closes $140 mil­lion in Series C fund­ing

Progressive Grocer (India) - - Market Update -

Grey­or­ange, the global leader in Ai-pow­ered ro­bot­ics sys­tems for flex­i­ble au­to­ma­tion across ful­fill­ment cen­ters in sup­ply chain, has an­nounced US$140 mil­lion in Series C fund­ing, mark­ing the largest round ever raised by an in­dus­trial ro­bot­ics com­pany. Mithril Cap­i­tal, co-founded by Ajay Royan and Pe­ter Thiel, led this round, which in­cluded Binny Bansal and other ex­ist­ing in­vestors such as Blume Ven­tures. They join Mit­subishi, Flip­kart, and the Project Verte as in­vestors in the com­pany. The new funds will en­able the au­to­ma­tion gi­ant to ful­fill its vi­sion of de­vel­op­ing and de­ploy­ing in­tu­itive, flex­i­ble and scal­able so­lu­tions for endto-end au­to­ma­tion across the sup­ply chain, from fac­to­ries to ful­fill­ment cen­ters, and beyond. The firm plans to build on the strong growth it has ex­pe­ri­enced over the past five years by ex­pand­ing op­er­a­tions across Asia, Europe and the U.S. To that end, the com­pany re­cently es­tab­lished its U.S. head­quar­ters and man­u­fac­tur­ing fa­cil­ity in At­lanta, Ge­or­gia, and launched a ma­jor R&D cen­ter in Bos­ton, Mass­a­chu­setts.

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