Fulfillment Remains in Demand: GreyOrange Completes $135M Funding Round

Headquartered roughly 20 miles north of Atlanta, in suburban Roswell, Georgia, GreyOrange was founded in 2011 – the year before Amazon’s Kiva deal shook the industry. GreyOrange announced a $140 million Series C in 2018 and today announced that it has closed out a $135 million growth financing Series D. Anthelion Capital led the round, which also featured returning investments from Mithril, 3State Ventures and Blume Ventures. Over the years, it has been working to build a full stack solution for warehouse, fulfillment and 3PL needs. That includes Kiva-like AMRs (autonomous mobile robots), forklifts and bin systems for picking, coupled with its own first-party (“hardware-agnostic”) fleet management software. CEO Akash Gupta noted that this round will – in part – go toward delivering systems to customers.

In the ever-evolving world of robotics, the question of “what comes next after warehouse/fulfillment?” has been a popular topic of discussion in recent years. With the e-commerce boom brought on by the pandemic, this category has garnered even more attention, as online shopping has become not just a convenience, but a necessity.

While Amazon has dominated this space for over a decade with its in-house systems, other companies such as Locus, 6 River Systems, and Fetch (now owned by and rebranded as Zebra) have formed partnerships with major retailers. But just because we’re asking “what’s next” doesn’t mean that the spotlight is leaving fulfillment anytime soon. Despite some setbacks due to the economy, this is still a massive and growing category.

Headquartered in the Atlanta suburb of Roswell, Georgia, GreyOrange was founded in 2011 – a year before Amazon’s game-changing acquisition of Kiva Systems. In the past decade, the company has secured high-profile customers like Walmart Canada, Nike, and Swedish fast-fashion giant, H&M.

When it comes to fundraising, GreyOrange has had no shortage of success. In 2018, they announced a $140 million Series C round, and today they’re celebrating the close of a $135 million growth financing Series D. Leading the round is Anthelion Capital, with continued investments from Mithril, 3State Ventures, and Blume Ventures.

Throughout the years, GreyOrange has dedicated itself to building a complete solution for warehouse, fulfillment, and 3PL needs. This encompasses a range of autonomous mobile robots (AMRs) similar to Kiva, as well as forklifts and bin systems designed for picking. Their own first-party fleet management software rounds out the package, providing a “hardware-agnostic” solution.

CEO Akash Gupta explains that this latest round of funding will primarily be used for delivering these systems to customers. With this continued investment, it’s clear that GreyOrange is well-positioned to continue revolutionizing the world of warehouse and fulfillment technology. The future is bright for this innovative company.

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Kira Kim

Kira Kim is a science journalist with a background in biology and a passion for environmental issues. She is known for her clear and concise writing, as well as her ability to bring complex scientific concepts to life for a general audience.

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