GreyOrange secures funds from Tiger Global

By | August 11, 2015
Grey Orange - Funding - Banner

Grey Orange - Funding - Feature 2Grey Orange secures funds from Tiger Global and Blume Ventures. The company is one of the fast-growing, venture-backed technology startups. Grey Orange creates hardware and software for warehousing industry. They have developed disruptive high-tech products that revolutionize the obsolete and traditionally managed logistics and distribution centers by improving factors like operational efficiency and increase in productivity.

Grey Orange focuses on the development of logistics fulfillment, which in turn increases in a pickup in order pickups and parcel sorting rates which in turn helps to reduce the time for replenishment and ensure faster delivery to consumers.

Grey Orange has developed products like Butler and Sorter. Butler is bi-directional scalable material handling system for goods-to-man. The Butler system takes care of the complexities of forward and reverse logistics at fulfillment center of the businesses. If there is a need for extra storage, configuration and additional mobile storage units can be added along with features of order to shipping and additional pick up stations too.

Grey Orange - Funding - Feature 1Another product of Grey Orange is Sorter, an automation product for outbound packet sorting. Sorter is designed in such a way, determination of size and weight of the package, even the odd shapes and weight can be noted for further processing, thereby reducing precious manual labour in determining the weight and size of the packages. The system is designed with capabilities of 1D or 2D barcodes recognition. On an average Sorter can sort around 1,500 to 6,000 packets per hour.

Gurgaon based Grey Orange was founded in 2011 by Wolfgang Hoeltgen, Akash Gupta and Samay Kohli. Samay Kohli is co-founder and Chief Executive Officer of Grey Orange Robotics P Ltd. He has graduated in Bachelor of Engineering (Hons) in Mechanical Engineering from Birla Institute of Technology and Science, Pilani in 2009 and Master of Science from the same institute in Economics in 2010.

Samay has been awarded several awards, to name a few are ‘Winner of the 30 under 30 Achievement Award’ instituted by BITS, Pilani and BITSAA International PLC. He was first at Robotics Design Competition conducted by Honda, Japan in 2004.  Several first places in APOGEE series in 2006 and 2007. He has worked in several companies and organizations which are connected to Robotics and Artificial Intelligence. Few companies like Center for Robotics and Intelligent Systems, CajunBot Lab and C&C Technologies.

Grey Orange - Funding - Feature 3Akash Gupta is co-founder and Chief Technology Officer of Grey Orange Robotics. He has graduated in Bachelor of Engineering in Mechanical Engineering from Birla Institute of Technology and Science in 2012. He has published an article ‘Chronicle of Humanoid Research at BITS, Pilani – AcYut’ in 2011. Like Samay Kohli even Akash is connected to robotics field, he associated as a team leader with Center for Robotics and Intelligent Systems for a year.

Wolfgang Holtgen is co-founder and Director of the Grey Orange. He is an Electronical Engineer in measurement technology from Fachhochschule Bielefeld in 1964. He has rich professional experiences having worked with IBM for 20 years and owns cth. Wolfgang is a director of GIBC – Hanover.

Grey Orange is a dominant player in the ware housing industry in India. The company has clients like Flipkart, Amazon, Jabong, Delhivery, GoJavas (a group company of Snapdeal), Aramex, DTDC and Kerry Logistics to name a few. The company has secured 2 rounds of funding till now from leading PE investors. Their Series ‘A’ funding for INR 50 crores was from Blume Ventures, Tiger Global and few individual investors. Grey Orange secured Series ‘B’ funding for $30 M from Tiger Global and Blume Ventures on August 10, 2015.

Grey Orange plans to expand globally and plans to set up offices in locations like Japan and China. With the funding, they are planning to increase head count in these locations and another product will be rolled out in few months. The company claims it dominates 95% of the Indian market.

Grey Orange - Funding - Feature 4Blume Venture’s Managing Partner, Karthik Reddy said, “We haven’t scratched even the surface of any market—India or otherwise. Different products have appeal in different markets at different times. Like any good market, if there’s much demand, there will be an investment and there will be competitors. It’s not about first-mover advantage. It’s about building a culture of innovation at scale in an area like robotics. Tapping into an incredible raw young pool of talent in India gives Grey Orange a vantage position to keep ahead of the curve. This is a multi-decade company that’s just getting started.”

Lee Fixel of Tiger Global said, “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.”

Grey Orange is planning to move its R & D team to a bigger facility with 1200 seater, state of the art campus equipped with laser cutters, 3D printers, a fully equipped paint shop, 5- axis milling and lathe. The latest campus has customer demo centers and simulation equipment too. Grey Orange has to globally compete with San Jose-based Fetch Robotics, Amazon owned Kiva Systems.

Author: Venu V

i look for minute details, whatever i do. Avid reader, read lot of Hindu mythology, Technology and General news. Extreme foodie and like to taste new types of vegetarian food. Travel a lot, like to explore new places which are not explored by anyone. Participate in adventure sports like river rafting, grappling and hot air ballooning.