Tiger, Blume pump $30 mn in Grey Orange Robotics

The startup has more than 300 employees and claims a 90% market share of India's warehouse automation market

Gurgaon-based Grey Orange Robotics has raised fresh funding worth $30 million (Rs 191 crore) in a Series-B round led by Tiger Global Management. The funding also saw participation from Blume Ventures. Tiger Global is also an investor in Facebook, LinkedIn, Flipkart, OlaCabs and AirBnB.

Grey Orange develops robotics and material handling systems for e-commerce, logistics and manufacturing companies. The fresh funds will be used to develop products to expand internationally into the Asia-Pacific, West Asia and Europe. Its customers include Flipkart, Amazon India, Jabong, Delhivery, GoJavas,Aramex, DTDC, and Kerry Logistics.

"The GreyOrange team is helpingtransform the logistics industry with its high-tech, automated solutions and isnow well positioned to leverage its technology globally.", said Lee Fixelof Tiger Global.

“Over the past decade, the global e-commerce industry has undergone significantinnovation as it evolved into a mainstream channel for individuals andbusinesses’ consumption needs. Much of the industry’s efforts had historicallycentred on web and mobile platforms for marketplaces, online stores andpayments,'' said Karthik Reddy, Managing Partner at Blume Ventures.

‘‘We believe those challenges have largely been tackled, and in recentquarters, are starting to see companies give greater attention to redesigningtheir processes and investing in warehouse automation equipment, in order tokeep up with the exponential increase in e-commerce orders. We believeGreyOrange - with its Sorter and Butler products - is in a sweet spot to servethat need,” Reddy said.

Earlier, ithad raised Rs 54 crore in Series A round of funding from Tiger Global and BlumeVentures Fund I. Other angel investors like Raju Reddy (cofounder of SierraAtlantic), Dileep Nath (cofounder of Kanbay) and Alok Rawat (President of FGWilson) had also participated in the round. In January 2014, it had raised anundisclosed amount from Blume Ventures, BITS Sparks Angels and few otherangels.Founded in 2011 by Samay Kohli and Akash Gupta,the start-up has more than 300 employees and claims a 90 per cent market shareof India's warehouse automation market.

Its Gurgaon-based R&D team is gearing up to move into its 1200 seater,state-of-the-art campus with a global prototyping center that is equipped withlaser cutters, 3D printers, a full-fledged paintshop, 5-axis milling and lathe,customer demo centres and a host of simulation equipment.