Gurgaon based warehouse automation company Grey Orange Robotics has raised over Rs 50 cr* in series A funding from Tiger Global and seed stage investor Blume Ventures.
Individual angels such as Raju Reddy, the co-founder of Sierra Atlantic, Dileep Nath, the co-founder of Kanbay and Alok Rawat, President of FG Wilson have also invested in the company.
The startup, founded by BITS Pilani alumni Samay Kohli, 27 and Akash Gupta, 24 has been operating in the field of robotics for some time now and their products are changing warehouse management of many companies in the country.
The company today has over 35 engineers and customers like Flipkart, which is backed by Tiger Global as well. Grey Orange is also in talks with some international logistics and retail companies.
In January 2013, the company raised Rs 3 crores from Blume Ventures, BITS Spark Angels and other angels.
Grey Orange wants to become a $1 bn company in the next 5 years. With growing e-commerce in India, Grey Orange is at the right place and time. We see rapid scale and possibly a high value acquisition in the offing. What do you think?
* The company did not disclose the exact amount of funding. This is what we have heard from sources.