BackGrey Orange Robotics raises funds from Tiger Global
Funds will be used for hiring talent, scaling up research and development operations and for global expansion
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Bangalore: Gurgaon-based robotics start-up Grey Orange Robotics Pvt. Ltd has raised an undisclosed sum in a Series A round of funding led by Tiger Global and Blume Ventures Advisors along with independent investors Alok Rawat and Dileep Nath.
A person familiar with the deal put the money raised at about $10 million (around ₹ 60 crore).
The funds will be used for hiring talent, scaling up research and development (R&D) operations and for global expansion, the company said in a statement on Tuesday.
“Supply chain efficiencies are going to be a pivotal factor for global trade and it’s exciting to support a company that’s looking at solving this problem," said Sanjay Nath, managing partner, Blume Ventures.
Grey Orange, headquartered in Singapore, was founded by Samay Kohli and Akash Gupta in 2011. The company builds robots and assisting systems to help workers sort and arrange goods in warehouses. The robots, called ‘sorters’ and ‘butlers’, depending on their functions, fall under the category of swarm robotics, which means that a bunch of individual robots perform a module of a larger task that is divided into many sub-tasks.
A year into its inception, Grey Orange Robotics got a combined investment of $500,000 from BITS Spark Angels, a network run by the alumni of BITS Pilani, and Blume Ventures Advisors.
“We’re in fact being quite selective about whom we decide to partner with, as we start manufacturing our next generation of robots. We will be starting off with installations in Singapore and some other international markets," said Kohli, co-founder, Grey Orange.
The company’s pipeline of customers includes some of the largest names in e-commerce, including India’s largest e-commerce player Flipkart, third party logistics and retail companies.
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