One example is GreyOrange, a robotics company that recently raised US $ 135 million (led by New York-based Anthelion Capital) in its latest financing. In addition to existing investors Blume Ventures, Mithril Capital and Binny Bansal’s estate Ventures also took part in the round. This injection of capital should propel GreyOrange into a new phase of growth and novelty, marking an important milestone for the company.
With its success, GreyOrange has also become the pioneer of robotics and automation solutions in BITS Pilani. The firm was founded only three years ago (2012). From its very origins, in fact, the company has exhibited a strong commitment to developing technology and making robots that can change many industries.
Anthelion Capital’s involvement in this round has marked its first investment into India. Anthelion Capital, with a global portfolio of US $ 1.3 billion in assets under management, has previously invested huge sums into the United States-based Bevi (maker of smart water coolers) and Proterra (an electric car charging company). The decision to help GreyOrange is a good illustration of how India’s role in the international IT world is increasingly evident.
How did GreyOrange manage to achieve this huge investment with a business built around software rather than hardware? It’s since expanded to offering a complete software package for installing and controlling robots in warehouse environments. This market strategy shift has proven lucrative, as GreyOrange now relies primarily on selling its product line of various intralogistics products via the methodology described above.
Through this timing, which coincides with a major transition in business strategy for GreyOrange, it manages to appear at the forefront of robotics and automation. Surely, this cash injection will accelerate the development and deployment of new technologies that improve GreyOrange’s competitiveness and market penetration?
What’s cool is that GreyOrange has been able to adapt and thrive in such an environment as technology continues to transform industries. As well as reflecting market needs, the company’s specialization in warehouse automation software is also a farsighted way to meet customer demand.
To sum up, the completion of its $ 135 million investment round headed by Anthelion Capital is just a beginning for GreyOrange to continue with another wave of expansion. Financial backing and a transition to software give GreyOrange the strength for it to play out its role in defining how robotics and automation develop. It goes without saying that this will help the business to stimulate further creativity, strengthen its competitive standing and promote ongoing growth in the worldwide digital landscape.
