GreyOrange, a provider of automated robotic fulfilment and inventory optimisation software, has secured US$110m (£88.7m) in comprehensive growth financing.
The majority of this latest funding came from Mithril Capital Management and a group of current and new investors, along with separate financing provided by funds and accounts under management by BlackRock.
“GreyOrange is trusted by the biggest names in retail to help them do what they do best, better,” said Ajay Royan, managing general partner at Mithril Capital Management.
“Demand for the GreyOrange omni-channel fulfilment platform continued to increase consistent with our high expectations as retailers come to terms with the immediate necessity of robotic automation in fulfilment.”
Its fulfilment platform, which integrates across every node in a retailer’s fulfilment network, is designed to provide adaptive learning and continuous process automation with high resiliency as well as an ecosystem for third-party software, robotics and hardware application development.
The company’s GreyMatter software utilises machine learning insights to orchestrate fulfilment operations for the most efficient movement of inventory in a fully integrated, end-to-end solution. GreyOrange added its solutions can be installed in as little as 12 weeks to rapidly transform fulfilment with minimal disruption to operations.
GreyOrange works to reduce operating costs and expedite delivery for global retail firms including Walmart, H&M, COS, Coupang and GXO Logistics.
“Our fulfilment platform revolutionises how the largest and best-known retail brands in the world, such as Walmart and H&M, fulfil their promises to customers, employees and shareholders,” said Samay Kohli, co-founder and CEO, GreyOrange.
“As e-commerce sales soar, brands face a stark reality: embrace automation, or cede customers to the competition. We orchestrate fulfilment and optimise 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.”
Furthermore, the company has launched a mobile-first SaaS app gStore to turn stores into tech-enabled, personalised experience hubs for customers as well as dynamic fulfilment centres for online commerce using real-time digital management of in-store inventory. The gStore software solution deploys either in stores as a standalone solution, or as part of GreyOrange’s ecosystem-wide fulfilment platform.