greyorange funding: GreyOrange raises $ 110 million from Peter Thiel’s Mithril Capital and others

Bangalore: Robotics and automation company for warehouses Gray Orange said it raised $ 110 million from Peter Thiel‘S Mithril Capital and other existing and new investors along with separate debt financing from Black rock.

The company provides software and hardware that automates multiple functions in warehouses for companies such as Walmart, H&M, COS, Coupang, and GXO Logistics.

GreyOrange will use the funds to improve its technology, expand into other markets and increase the adoption of the company’s fulfillment products in warehouses, distribution centers and retail stores.

The company also said it will use a portion of the debt financing provided by BlackRock managed funds and accounts to hire more than 300 people across the customer service, sales, marketing, product and engineering teams.

The company last raised funds in a $ 140 million round in September 2018. Mumbai-based Blume Ventures is also an investor in GreyOrange.

“With labor shortages at record levels and set to grow in the long term, 73% of third-party logistics companies said finding, training and retaining skilled labor as the most critical challenge,” the company said in a statement. Note. “Robotic automation mitigates the challenges of labor shortages while improving the work environment to satisfy employees as robots take on repetitive tasks and enable intelligent management teams to implement skills improvement programs that support satisfaction and employee loyalty “.

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“Our fulfillment platform revolutionizes how the world’s largest and best-known retail brands, such as Walmart and H&M, deliver on their promises to customers, employees and shareholders,” said Samay Kohli, co-founder and GreyOrange CEO. “As e-commerce sales rise, brands face a harsh reality, embrace automation, or hand customers over to competition. We orchestrate fulfillment and optimize inventory in a complex global supply chain environment for a more companies shipping millions of items every day than any other player in the market outside of Amazon. ”

The company’s solution can be installed in 12 weeks, which the company says will transform fulfillment with minimal disruption to operations. The company said its fulfillment platform helps retailers fulfill high-volume ecommerce orders 7x faster and with 50% less physical effort.

GreyOrange was founded in India in 2015 and has opened offices in the United States with a significant presence there. GreyOrange also has offices in Germany, the UK, Japan and Singapore.

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