The robotics developer focuses on smart technology aimed at helping e-commerce, manufacturing and logistics companies achieve warehouse automation.
Singapore-based smart tech developer GreyOrange Robotics has received $30 million in Series B funding led by American investment firm Tiger Global Management. The robotics developer focuses on smart tech aimed at helping e-commerce, manufacturing and logistics companies achieve warehouse automation.
“We are delighted with our investors’ overwhelming support. We are doubling our team size globally as we steer the company and our products beyond India and into international markets,” said Samay Kohli, GreyOrange Robotics co-founder and CEO.
As for those international markets, besides the Singapore headquarters, GreyOrange has offices in India and Hong Kong. It is currently in the process of expanding to Japan and China. A major move within its already-established India market in on the horizon. The research and development team based in Gurgaon is relocating to a campus capable of fitting 1,200 employees, including 3D printers, a prototyping centre and a complete paint shop.
GreyOrange currently sells two products. Butler is an automated goods-to-person system that delivers/stores parcels within a warehouse. It also offers analytics and on-demand auditing. The other device is Sorter, a high tech conveyer belt the company claims can handle up to 6,000 packages per hour. Between the two products, the company claims 90% of India’s market share and 40 clients including Flipkart, Amazon India and Kerry Logistics.
Citing GreyOrange’s smart logistics products, Lee Fixel, a partner at Tiger Global Management, said in an official statement, “The GreyOrange team is helping transform the logistics industry with its high-tech, automated solutions and is now well positioned to leverage its technology globally.”
GreyOrange previously raised a Series A from Tiger Global and Blume Ventures in April 2014, but the amount is undisclosed.
Founded in February 2011 by Akash Gupta, Wofgang Höltgen and Kohli, GreyOrange now has over 300 employees, 200 of which are on the engineering team. It claims to have installed product lines with a total capacity of over three million parcels per day.
This post was originally published on e27.
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