Robotics developer GreyOrange has raised series C funding from investors including Mitsubishi and Flipkart to drive international growth.
Singapore-based automated robotics technology producer GreyOrange completed a $140m series C round featuring diversified conglomerate Mitsubishi and e-commerce company Flipkart yesterday.
Investment firm Mithril Capital led the round, which included venture capital firm Blume Ventures, Project Verte and Binny Bansal, co-founder and chief executive of Flipkart, as well as unnamed existing investors.
Founded in 2011, GreyOrange develops artificial intelligence-equipped robotics systems for use in e-commerce and logistics operations.
The company’s products include Butler, an inventory management and order-picking robot, and automated fulfilment robot Butler PickPal.
The funding will help GreyOrange expand its operations across Asia, Europe and the US. It opened a US headquarters in Atlanta last week and has also launched a research and development facility in Boston.
Ajay Royan, co-founder and managing general partner of Mithril Capital, will join GreyOrange’s board of directors in conjunction with the round.
Hedge fund manager Tiger Global Management led a $30m series B round for GreyOrange in 2015 that featured Blume Ventures, after the same two investors had contributed to an $8.9m series A round alongside assorted angel investors the year before.
