GreyOrange bags $110 million for automated fulfilment platform
Blackrock Capital Group and Mithril Capital Management Group have announced a $110 million investment in robotic fulfilment and inventory optimisation software firm GreyOrange.
GreyOrange, which works with the likes of Walmart and H&M, says it will use the cash to “accelerate the company’s technology leadership, continue our global expansion and further support the adoption of our platform in warehouses, distribution centres and retail stores”.
The funding comes four years after a $140 million Series C round that brought the US-based company’s raise to $170 million.
“GreyOrange is trusted by the biggest names in retail to help them do what they do best, better,” says Ajay Royan, Managing General Partner at Mithril Capital Management.
“Demand for the its omnichannel fulfilment platform continued to increase consistent with our high expectations as retailers come to terms with the immediate necessity of robotic automation in fulfilment.”
“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 customer base.”
“The leading brands and retailers we spoke with that use the GreyOrange platform to transform their fulfillment centers and enhance the work environment for their associates experienced substantial productivity improvements,” says Brad Pritchard, Managing Director and Head of Venture Lending at BlackRock Capital Group.
“Our fulfilment platform revolutionises how the largest and best known retail brands in the world, such as Walmart and H&M, fulfil their promises to customers, employees and shareholders,” comments Samay Kohli, Co-founder and CEO, 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.”
