| |

GreyOrange Raises $110M in Growth Financing


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.

Robotics World News

  • Raise Robotics Raises $2.2M in Seed Round Funding

    Raise Robotics Raises $2.2M in Seed Round Funding

    Raise Robotics, which develops robotic equipment for construction sites, has announced it raised $2.2 million in a pre-seed funding round (reported by Construction Dive). The company is currently providing fenestration and mass timber contractors with semi-autonomous equipment that completes bracket layout, installment and verification four times faster than standard methods. “Our mission at Raise is… Read More…

  • Scythe Robotics Raises $42M for Commercial Autonomous Mower

    Scythe Robotics Raises $42M for Commercial Autonomous Mower

    Colorado-based Scythe Robotics, which develops advanced commercial-grade autonomous systems for professional landscapers, has announced it raised $42 million in Series B funding. The company said it will use the funding to help meet demand for more than 7,500 reservations for its fully electric, fully autonomous M.52 mower. With the latest financing, Scythe Robotics has raised… Read More…

Products for Robots & Cobots

  • Celera Motion Introduces the World’s Smallest Servo Drives

    Celera Motion Introduces the World’s Smallest Servo Drives

    Celera Motion, a business unit of Novanta Inc., announced the launch of two of the world’s smallest servo drives, the Denali Series. Denali is the latest addition to Celera Motion’s line of premium-performance Ingenia servo drives. Denali offers hardware architecture as well as optimized power management, with a minimum standby power consumption of down to 1.2 W. The servo drives… Read More…

  • Heiland Electronics Introduces Mini I/O Connectors for Fast Speeds and Easy Field Installs

    Heiland Electronics Introduces Mini I/O Connectors for Fast Speeds and Easy Field Installs

    Heilind Electronics, a leading global distributor of electronic components and authorized distributor for TE Connectivity, offers the Mini I/O Cat6A connector as part of its full line of TE ethernet products. TE Industrial’s Mini I/O connectors eliminate the need for special tools to create a fast and secure wire-to-wire or wire-to-board connection. The mini I/O… Read More…