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GreyOrange Raises $110M in Growth Financing

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May 18, 2022

GreyOrange, which develops automated robotic fulfillment and inventory optimization software, has announced raising $110 million in comprehensive growth financing. The company said it grew across new customers, applications and geographies while also achieving more than 170% gross retention in contracted revenue from existing customers in 2021.

The company’s fulfillment platform provides adaptive learning and continuous process automation, as well as an ecosystem for third-party software, robotics and hardware application development. The GreyMatter software uses machine learning insights to orchestrate fulfillment operations for efficient movement of inventory in a fully integrated, end-to-end solution. The company said its solutions can be installed in as little as 12 weeks to help transform fulfillment with minimal disruption to operators.

“GreyOrange is trusted by the biggest names in retail to help them do what they do best, better,” said Ajay Royan, managing general partner at Mithril Capital Management, which provided a majority of the new funding. “Demand for the GreyOrange omnichannel fulfillment platform continued to increase consistent with our high expectations as retailers come to terms with the immediate necessity of robotic automation in fulfillment. We are particularly excited about the expansion underway with GreyOrange’s SaaS applications, such as gStore, which deliver new and innovative supply chain solutions to discerning consumers across the GreyOrange customer base.”

The company said it will deploy the growth capital to accelerate its technology leadership, continue its global expansion and further support the adoption of the fulfillment platform in warehouses, distribution centers and retail stores. Its gStore system is a mobile-first software-as-a-service app that turns stores into tech-enabled, personalized experience hubs for customers, as well as dynamic fulfillment centers for online commerce using real-time digital management of in-store inventory. The gStore can deploy either in stores as a standalone solution, or as part of GreyOrange’s ecosystem-wide fulfillment platform.

“Our fulfillment platform revolutionizes how the largest and best-known retail brands in the world, such as Walmart and H&M, fulfill their promises to customers, employees and shareholders,” said Samay Kohli, co-founder and CEO of GreyOrange. “As e-commerce sales soar, brands face a stark reality: embrace automation, or cede customers to the competition. We orchestrate fulfillment and optimize 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. 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.”

Walmart recently announced a new high-tech sortable fulfillment center in Rocky View County, Alberta, which will include robotic technology from GreyOrange. The platform will speed order fulfillment by using an advanced operating system to help associates store, pick and sort items by using smart and flexible storage abilities to manage a large and wide variety of inventory.

The company said it will also use a portion of the debt financing provided by funds and accounts under management by BlackRock to invest in scaling its headcount in key areas, creating 300 jobs across customer success, sales, marketing, product and engineering teams.

For more details on GreyOrange and its systems, visit its website here.


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