The Rise Of The Robots 2.0

As Greyorange, one of the hottest names in warehouse automation and robotics, widens its reach, intensifies r&d and recruits talent from the world over, its backers believe big things are in store for it.

- Debojyoti Ghosh

in the last five years we were focussing on how to tap into global markets and establish our base outside india. every quarter, we were adding a new city globally.

SAMAY KOHLI Chief executive officer, GreyOrange

VENTURE CAPITAL ( VC) FUNDING IS NO PROOF of a startup’s success, but it is a pretty good gauge of its promise. Automation startup GreyOrange has raised funding four times in its eight years of existence. The most recent was last September when it raised $140 million in Series C funding at a reported valuation of $400 million to $500 million.

Blume Ventures, an early-stage VC firm that backs tech startups, has invested in all these rounds. “Even when the original fund’s reserves were exhausted, we requested our LPs [limited partners] for additional capital to be able to continue investing our prorata share of the larger rounds,” says Karthik Reddy, managing partner at Blume Ventures. The Mumbai-based VC firm’s total investment in GreyOrange is $10 million.