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GreyOrange Closes $140 Million Series C, Marking the Biggest Fundraising in Industrial Automation Systems

Sep 07, 2018 Picture:  New funds enable GreyOrange to accelerate the fulfillment of its vision to develop the next generation of flexible supply chain systems SINGAPORE--(BUSINESS WIRE)--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 including Blume Ventures. They join Mitsubishi, Flipkart, and the Project Verte as investors in the company. Ajay Royan, Co-Founder and Managing General Partner of Mithril Capital, will join the GreyOrange board. “As a global investor focused on emerging category leaders, Mithril is proud to partner with the GreyOrange team to advance our shared vision of a universal platform for flexible automation. As online and offline channels converge across a wide range of industries, we are excited to support robotic solutions that thoughtfully bridge the world of bits and the world of atoms, driving better health, safety and efficiency for workers and customers alike,” said Ajay Royan, co-founder and Managing General Partner of Mithril Capital. Binny Bansal, Flipkart co-founder and Group CEO said, “As an entrepreneur myself, I have closely followed how Samay and Akash have built and grown GreyOrange to become an international technology company with customers across the world. I look forward to supporting and witnessing the new phase of their growth. The team will build on its strengths, especially in AI and machine learning, to launch new generation products for flexible automation.” Founded in 2011 by Samay Kohli and Akash Gupta, GreyOrange is a global technology company headquartered in Singapore with offices in India, Japan, Germany and the U.S. The company operates major Research and... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, GreyOrange Closes $140 Million Series C, Marking the Biggest Fundraising in Industrial Automation Systems, simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you GreyOrange Closes $140 Million Series C, Marking the Biggest Fundraising in Industrial Automation Systems

 

 

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Published By: ASIA TODAY - Friday, 7 September, 2018

 

 

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