2024 Gartner® Hype Cycle™ for Mobile Robots and Drones
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– Funding will further accelerate GreyOrange’s growth and industry-defining leadership in automation within the warehouse fulfillment and retail markets –
NEW YORK, December 20, 2023 — GreyOrange Inc., a leader in AI-driven fulfillment automation, today announced the first close of its Series D funding, securing $135 million. Led by Anthelion Capital (formerly Cowen Sustainable Investments) this investment reinforces GreyOrange’s innovative approach to transforming warehouse and retail store operations through a hardware-agnostic software platform and a dynamic range of certified robotic and sensing technologies. The company’s growth and adoption rates with market leading Fortune 500 customers validates GreyOrange’s capability to lead tech transformation in the global supply chain automation space.
“Not only has GreyOrange automated the movement of goods within the warehouse, but the company has also built a network that optimizes how retailers move their goods across their entire supply chain,” said Vusal Najafov, Co-Founder, Anthelion Capital. “Their capability to improve operational efficiency in various settings and their innovative approach in transforming inventory into a more productive asset in warehouses and retail spaces are key reasons for our excitement in leading this funding round.”
GreyOrange’s latest funding round also reflects a strong vote of confidence from existing investors such as Mithril, 3State Ventures, and Blume Ventures. Their continued support, coupled with significant capital from previous rounds, underscores their unwavering commitment to GreyOrange.
GreyOrange will deploy the growth capital to accelerate the company’s technology leadership, continue its global expansion, and further support the adoption of GreyOrange’s fulfillment orchestration platform in warehouses, distribution centers, and retail stores.
“As we scale our technology and enhance customer experiences and operational efficiency, we recognize that keeping the needs of our customers at the center of our product and solution roadmap has proven essential for our customers’ success, as well as our own,” said Akash Gupta, Co-Founder and CEO, GreyOrange. “This Series D funding amplifies our commitment to leadership within the AI and robotics orchestration space and affirms our thought leadership within this market.”
“GreyOrange’s technical and commercial advances reinforce our shared mission to bring game changing automation and productivity to retail,” said Ajay Royan, Founder and Managing General Partner of Mithril Capital. “GreyOrange’s thoughtful implementation of their pioneering technology has earned the trust of the world’s largest retailers and logistics partners. GreyOrange is leading a major shift in productivity, safety, and novel forms of convenience that will benefit hundreds of millions of consumers.”
The overall growth seen in the warehouse automation sector will continue to be a strong tailwind for GreyOrange. According to the 2023 Gartner Hype Cycle™ for Supply Chain Execution Technologies report, “by 2027, over 75% of companies will have adopted some form of cyber-physical automation within their warehouse operations.”
The Gartner report also details that, “As companies expand their use of robotics, most will eventually have heterogeneous fleets of robots from different vendors performing various tasks, which will require standardized software that can easily integrate to a variety of agents and robot platforms. These solutions will assign work to the right robots based on the characteristics of immediate and prioritized tasks and communicate with other types of automation (agents) like door or elevator controls.”
For more information, visit www.greyorange.com.
1. Gartner, Hype Cycle for Supply Chain Execution Technologies, 2023, Dwight Klappich; 13 July 2023.
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About GreyOrange
GreyOrange is at the forefront of AI-driven robotics systems, transforming distribution and fulfillment centers worldwide. Its emphasis on orchestration, innovation, and customer satisfaction marks a new era in efficient, responsive supply chain solutions. The company’s solutions offer a competitive advantage by increasing productivity, empowering growth and scale, mitigating labor challenges, reducing risk and time to market, and creating better experiences for customers and employees. Founded in 2012, GreyOrange is headquartered in Atlanta, Georgia, with offices and partners across the Americas, Europe, and Asia. For more information, visit www.greyorange.com.
About Anthelion Capital
Anthelion Capital is a growth-oriented investment platform that provides flexible capital and data science solutions to environmentally sustainable companies. The firm was founded in 2015 and is based in New York City. In 2018, Anthelion Capital partnered with Cowen Inc. to advance growth as Cowen Sustainable Investments. In December 2023, co-founders Vusal Najafov and Ewa Kozicz reacquired the firm and rebranded it back to Anthelion Capital. The platform has $1.3 billion in assets, primarily from large institutional investors including pension plans and sovereign wealth funds. For more information, visit anthelioncap.com.
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