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Robotics start-up GreyOrange announced it raised $ 140 million in Series C financing under the leadership of Mithril Capital, co-founded by Ajay Royan and billionaire investor Peter Thiel.
Flipkart co-founder Binny Bansal and other existing investors such as Blume Ventures also participated in the tour. They join the Japanese conglomerate Mitsubishi and Flipkart as investors in the start-up.
GreyOrange, which provides robotic automation systems in distribution and execution centers, was founded in 2011 by two graduates of the Birla Institute of Technology and Science of Pilani – Samay Kohli and Akash Gupta. vision to develop the next generation of flexible supply chain systems.
"As we continue to invest heavily in the R & D of our products, we will solve new problems for our customers," said Samay Kohli, co-founder and CEO of GreyOrange.
The start-up announced plans to build on the strong growth of the last five years by expanding into Asia, Europe and the United States.
"The team will leverage its strengths, including AI and machine learning, to launch next-generation products for flexible automation," said Binny Bansal, co-founder and CEO of Flipkart Group.
GreyOrange recently opened its US headquarters and manufacturing facility in Atlanta, Georgia, and inaugurated a major R & D center in Boston, Massachusetts.
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