Robotics were once a thing of science fiction, but now they are helpful tools that carry out laborious tasks. GreyOrange is one of the innovative startups leveraging robotics for logistics and warehouse needs, and it recently received an investment for future growth.
On Wednesday, the Atlanta-based robotics startup announced that it raised $110 million in a growth financing round. This news comes a few years after the startup relocated to Atlanta from India and also raised a $140 million Series C round.
Growth financing for startups usually comes in the form of increased lines of credit and is used for company expansion. GreyOrange will use the capital from its latest investment to add an additional 300 roles for its engineering, product, marketing and sales teams. Part of the capital will also be used to increase the production of its robotics manufacturing.
Founded in 2015, GreyOrange manufactures and programs robotic systems that are used in warehouses and fulfillment centers. According to the company, its technology can be implemented across a wide range of verticals from retail to grocery warehouses.
“Our fulfillment platform revolutionizes how the largest and best-known retail brands in the world, such as Walmart and H&M, fulfill their promises to customers, employees and shareholders,” Samay Kohli, the company’s co-founder and CEO, said in a statement. “As e-commerce sales soar, brands face a stark reality: embrace automation or cede customers to the competition. We orchestrate fulfillment and optimize inventory in a complex global supply chain environment for more companies that ship millions of items each day than any other player in the market outside of Amazon. This growth financing enables us to rapidly deliver our premium solution to meet the expansion demand from existing customers, rapidly onboard our high volume of new customers, reach new partners and accelerate our unique product roadmap with an expanded suite of software solutions and predictive analytics.”
A month before the funding announcement, GreyOrange said Walmart would be investing in a new warehouse in Canada that would be outfitted with technology from GreyOrange. According to the company, the tech in the new center would speed up the time it takes workers to pick and pack orders to be shipped.