GreyOrange : How They Bought AI-Driven Tech To Warehouses

Living in the era of robots and artificial intelligence is not something that has become uncommon. With the help of AI, many industries, such as e-commerce and manufacturing, can improve their customers' experiences with personalization.

In this era, artificial intelligence systems are assigned those tasks, which generally humans either do not want to do, do not have time to do, or are potentially risky. These days, many warehouses or manufacturing units have artificial intelligent androids in robotic systems to increase productivity. The goal to have a robotic warehouse is to save money in labor and time and improve the efficient production system, and one such company is GreyOrange.

GreyOrange is a startup technology company that deals in AI cloud software and robotic automation to improve the working of warehouse industries.

Take a look through GreyOrange's AI journey in the following points to learn everything about their Startup Story, Founder, Business model, Revenue Model, Funding, Growth and more.

GreyOrange - Company Highlights

GreyOrange - About
GreyOrange - Industry
GreyOrange - Founders and Team
GreyOrange - Startup Story
GreyOrange - Mission and Vision
GreyOrange - Name, Tagline and Logo
GreyOrange - Business Model
GreyOrange - Revenue Model
GreyOrange - Products and Services
GreyOrange - Employees
GreyOrange - Challenges Faced
GreyOrange - Funding and Investors
GreyOrange - Growth
GreyOrange - Awards and Achievements
GreyOrange - Competitors
GreyOrange - Partnership
GreyOrange - Future Plans

GreyOrange - About

GreyOrange is a technology startup company that builds artificial intelligence cloud software and robotic industrialization to keep the working of the inventories and storages hassle-free. GreyOrange aims to provide a fulfillment platform no matter how challenging it can be, their GreyMatter fulfilling operating system and Ranger robots can help solve it.

The company takes pride to be a solution provider for warehouse industries. They claim to have solutions for if:

• the warehouse has peak season performance when high order hits them
• they have to fulfill variable demands
• to keep up continuous control of their fulfillment
• to meet the challenges of next-day/same-day delivery promises
• to keep up the speed, task, and labor efficiency to maintain the productivity

All of the above-mentioned facts are some of the problems or situations a warehouse industry goes through. GreyOrange makes sure to solve their concerns with GreyMatter software and Ranger Robot Series.

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GreyOrange - Industry

The global AI in logistics market reached USD 7.96 billion in 2022. Straits Research's forecasts project significant growth to USD 238.89 billion by 2031, featuring a robust compound annual growth rate of 45.93% over the 2023–2031 forecast period. The key drivers of this expansion are the increasing demands of the e-commerce industry and the expanding global trade scene.

As the foundation of both international trade and e-commerce, logistics is depending more and more on artificial intelligence (AI) technologies to improve operational efficiency. The industry's realization of the critical role logistics play in overall business performance is what spurred this strategic shift. According to insights from Straits Research, the broad adoption of high-speed internet connections has made it easier to integrate IoT devices in logistics, making AI solutions more accessible and revolutionary for the logistics sector.

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GreyOrange - Founders and Team

Akash Gupta, Samay Kohli and Wolfgang Hoeltgen are the founders of GreyOrange. Akash Gupta is co-founder and CEO, while Samay Kohli is the co-founder and Board Member at GreyOrange.

Akash Gupta

Akash Gupta is the co-founder of the company GreyOrange, and a graduate of Mechanical Engineering from BITS Pilani.

He was born in the Auraiya district in Uttar Pradesh and his father worked in the railways. Since his school days, Akash had developed an interest in 3D animation and learned coding in class VI from his sister's book. Eventually, he developed more interest in designing and wanted to try it out in the real world.

Akash has worked on various projects during his BITS Pilani days, thus giving him exposure to robotics. In 2008, during his first year of college, his team, AcYut, won a bronze medal at the Robo Games in San Francisco.

During his second year of college, he visited the BMW manufacturing unit, which helped him to understand more about the automation industry. It was during that time he met Wolfgang Hoeltgen, one of the mentors of the founding teams of GreyOrange. Akash Gupta leads the innovation part of GreyOrange across three R&D centers in USA and India from the Delhi office.

Samay Kohli

Samay Kohli is the co-founder and serves as a Board Member of GreyOrange and is Samay Kohli is the co-founder and serves as a Board Member of GreyOrange and is also the Entrepreneur in Residence at Sutter Hill Ventures. He also has an MS degree in Economics from BITS Pilani. Like Akash, Samay too developed a passion for robotics during his school days.

In their BITS Pilani days, together they participated in robotics competitions across 13 countries, winning a gold medal at the ROBOlymics in 2009. He has been featured in various publications like Forbes Asia, Economic Times, and The Fortune. He has also been featured on MIT Technology Review's global list of "35 Innovators Under 35."

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Wolfgang Hoeltgen

He is a German electronics engineer and entrepreneur and the third co-founder of GreyOrange and was serving as the Director of the company. He used to work at IBM Germany and later went to the US in research, manufacturing, engineering, and software. He later met Akash and Samay and became their mentor. However he has left the company in 2022 and is on a retirement break.

GreyOrange - Startup Story

The path of GreyOrange embodies the idea of a "modest beginning." A decade ago, BITS Pilani was the starting point for Samay Kohli and Akash Gupta, two robotics enthusiasts who were seniors in college and juniors. Together, they won praise for creating Acyut, the nation's first homegrown humanoid robot, which went on to win a gold medal at the 2009 ROBOlympics and represent India in robotics competitions held in 13 different nations.

Their path was significantly shaped by their involvement in international robotic competitions, their time at BITS' Center for Entrepreneurial Leadership, and an internship with C&C Technologies in the US. During their internship, they developed an automated 400-square-foot park, which was a significant first step towards large-scale product development. Motivated by these encounters, they established GreyOrange in 2011 with a starting capital of Rs 5 lakh INR, utilizing personal resources they had accumulated from their internships in the United States.

GreyOrange - Mission and Vision

GreyOrange mission to grow as a customer-centric and innovation-first solutions platform provider. The company's goal is to establish itself as the industry leader in cutting-edge innovations, with a focus on customer satisfaction and a dedication to innovative solutions.

The company's vision extends towards the long term, aspiring to develop an end-to-end orchestration and intelligence platform.

GreyOrange - Name, Tagline and Logo

Name: GreyOrange

Logo:

GreyOrange - Business Model

The core of GreyOrange's business model is the development, production, and implementation of state-of-the-art robotics systems that are specifically designed to automate warehouses, fulfillment centers, and distribution centers in order to fulfill individual customer orders. The company mainly serves the High Tech, Retail, Transportation, and Logistics Tech market segments through B2B and SaaS operations.

In just five years, GreyOrange has rightly taken the advantage of most of India's growing warehouse industries with its robots. Companies such as Flipkart, Myntra, and DTC are among many others using GreyOrange's robots at their manufacturing units to automate their distribution processes. The company operates its business through different offices located in Mumbai, Bengaluru, Hyderabad, and Chennai. The company is also present in Singapore, UK, Germany Japan, and the USA.

GreyOrange - Revenue Model

GreyOrange is on a remarkable growth trajectory, boasting an impressive year-on-year growth rate of about 300% as per news of 2016. Although a significant portion of its revenue was then generated from its home base in India, the company had ambitious plans.

It set its sights on a global stage, aiming to derive a substantial 70% of its sales from international markets. This strategic move reflected the company's aspirations to expand its footprint and establish a formidable presence beyond its origins.

GreyOrange - Products and Services

Ranger Rack-to-Person (RTP) – the goods-to-person autonomous mobile robot (AMR)

GreyOrange specializes in automating order picking, inventory storage, putaway, and replenishment processes within fulfillment and distribution facilities. Their Ranger RTP, integrated with the GreyMatter fulfillment operating system, is designed to seamlessly interact with roll-cage pick-put station attachments and mobile storage units (MSUs) compatible with Ranger products. These solutions are crafted to enhance collaboration between human workers and the warehouse's robotic systems, ensuring efficient and streamlined operations.

Ranger IL-L platform robot 

It's a vital part of the dynamic pair of autonomous mobile robots (AMRs) in intralogistics, the Ranger IL and the Ranger IL-H forklift robot. These robots, which are driven by GreyMatter, use cutting-edge 2-D LiDAR-based SLAM technology to autonomously navigate warehouse settings, guaranteeing smooth and effective operations.

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GreyOrange - Employees

There are about 501-1,000 employees as per LinkdeIn who are working at GreyOrange. They mainly employ those people who are experienced engineers because they believe that the robotics industry needs multidisciplinary skills like electronics, electrical, mechanics, software, and firmware.

The company believes in having a cosmopolitan surface/platform where employees are motivated and encouraged to design and equip their workspace that delivers high-class technology.

They also conduct activities and events to improve their work cultures such as GreyOrange Marathon, town halls, team activities, and excursions.

GreyOrange - Challenges Faced

As the company is in the software industry, providing automation in distribution centers comes with a lot ofchallenges,s such as complexity, scale, and cost of supply chains, and ultimately keeping up with customers' expectations. Their biggest challenge is to seamlessly help organizations face these challenges by transforming and optimizing their supply chains to reduce operational errors.

GreyOrange - Funding and Investors

The company GreyOrange has raised $428.1 million in 10 funding rounds.

Here are the funding details:

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GreyOrange - Growth

GreyOrange has achieved substantial growth, and operates a global network of more than 6,000 robots. The state-of-the-art fulfillment orchestration technology, GreyMatter, which orchestrates an astounding 630,000+ decisions each minute, is the driving force behind this achievement.

GreyMatter uses a continuous learning model to optimize order fulfillment, make quick decisions based on incoming data, and provide human workforce with critical business insights. As evidenced by the strict Ranger certification requirements, company take great satisfaction in providing the clients with the best possible quality and versatility. This collaboration puts GreyOrange in a strong position to develop and succeed moving forward as they meet and beyond the expectations of devoted clients.

GreyOrange - Awards and Achievements

Some of the prominent awards of GreyOrange are:

• Samay Kohli the co-founder recognized as a Supply and Demand Chain Executive in 2021.
• Company won “RBR50 Robotics Innovation Award” by Robotics Business Review in 2021.
• In London in 2021, the company was awarded the Supply Chain Excellence Award.

GreyOrange - Competitors

Some of the competitors of GreyOrange are as follows:

• ATTAbotics
  ATTAbotics is a Canada-based robotics company that deals in advanced inventory management systems. The company is one of the top competitors of GreyOrange as it is listed among CNBC's 100 most promising startups in 2019.
• Ambi Robotics
  Based in the United States, Ambi robotics is a tough competitor of GreyOrange. The company also offers advanced AI-powered robotic systems for inventory and has partnered with many industries such as E-commerce, Parcel, Consumer goods, Pharma, Cosmetics, Retail, Food & Beverage, and Manufacturing.
• Fetch Robotics
  Fetch Robotics (now part of Zebra technologies ) is a privately held robotics manufacturer situated in the US that offers a wide range of warehouse robots in manufacturing and warehousing operations.
• Exotec
  Headquartered in France, Exotec has operations present all over Europe, North America, and Asia. The company is slowly catching up with GreyOrange in terms of distribution.
• Kiva Systems
  Amazon Robotics, formerly known as Kiva Systems, has been in the market for quite some time. The company, based in Massachusetts, USA, manufactures a mobile robotic fulfillment system. Being a part of the Amazon brand, this brand has about over 900 parts as of 2008 from dc motors to custom-made ball screws.
• FANUC America
  The FANUC company has its headquarters in Japan, which is a group of companies that offers services in robotics and computer numerical control wireless systems. This brand is the largest maker of industrial robots in the world and serves all over the world.

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GreyOrange - Partnership

In 2022, GreyOrange partnered with Blue Yonder to come up with a combined form of digital warehouse management system (WMS) and order management system (OMS) solutions. Together, they planned to provide an expansive range of possibilities for businesses focused on fulfillment.

The giant fashion company H&M has also teamed up with GreyOrange to increase its efficiency in the robotic fulfillment system by implementing GreyOrange's automation services.

GreyOrange - Future Plans

GreyOrange released a revolutionary multi-robot orchestration function in the middle of 2023 that makes it possible for robots from various manufacturers to work together harmoniously in warehouses. This progressive action is in line with their future plan that more than 50% of businesses utilizing intralogistics robots will use these kinds of collaborative platforms by 2026. It strengthens GreyOrange's position as a frontrunner in influencing the direction of logistics' collaborative robots in the future.