GreyOrange Success Story: How They Bought AI-Driven Tech To Warehouses

Shalini Rath Shalini Rath J.Vaidehi J.Vaidehi
Sep 8, 2022 9 min read
GreyOrange Success Story: 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 industries 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 labour 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 Success, Revenue, Startup story, Competitors, Mergers and Acquisitions, and more.

GreyOrange

GreyOrange - Company Highlights
About GreyOrange and How it Works
GreyOrange - Founders and Team
GreyOrange's - Name, Logo, and Tagline
GreyOrange's - Business Model
GreyOrange - Revenue Model
GreyOrange - Products and Services
GreyOrange - Employees
GreyOrange - Funding, and Investors
GreyOrange - Competitors
GreyOrange - Partnership
GreyOrange - Challenges Faced
GreyOrange - Future Plans


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GreyOrange - Company Highlights

Startup name GreyOrange
Headquarters Roswell, Georgia, USA
Founder Akash Gupta, Samay Kohli, Wolfgang Hoeltgen
Industry Artificial Intelligence, Software, Warehousing
Founded 2011
Total Funding $293.1 Million
Valuation $1.5-1.7 Billion
Revenue $5 Billion (FY21)
Website greyorange.com

About GreyOrange and How it Works

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 - Founders and Team

Akash Gupta

Akash Gupta Co-Founder
Akash Gupta Co-Founder

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 Co-Founder
Samay Kohli Co-Founder

Samay Kohli is the co-founder and serves as a Board Member of GreyOrange. 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

Wolfgang Hoeltgen Co-Founder
Wolfgang Hoeltgen Co-Founder

He is a German electronics engineer and entrepreneur and the third co-founder of GreyOrange. 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.

GreyOrange's - Name, Logo, and Tagline

Name: GreyOrange
Tagline: Fulfilling The Future In Real Time
Logo:

Logo
Logo

GreyOrange's - Business Model

Why GreyOrange?
Why GreyOrange?

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, DTC, and Jabong are among many others using GreyOrange's robots at their manufacturing units to automate their distribution process. The company operates its business through different offices located in Mumbai, Bengaluru, Hyderabad, and Chennai. The company is also present in Singapore, Germany, Japan, and the USA.

Their business model mainly is to design, manufacture and deploy cutting-edge robotics systems for automation at various warehouses, distribution, and fulfillment centers as per order. Currently, the company has about 855 employees operating its business.

GreyOrange - Revenue Model

GreyOrange Revenue Model
GreyOrange Revenue Model

GreyOrange is growing by about 300% daily. Its major source of revenue is generated in India itself, the company is planning to generate at least 70% of its sales from overseas.

GreyOrange - Products and Services

Products And Services
Products And Services

The company has two main products Ranger Robot series - the 'butler robot' - which helps in moving heavy shelves and the 'sorter robot' which helps in organizing packages.


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GreyOrange - Employees

There are about 855 employees 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 - Funding, and Investors

The company GreyOrange is funded by 11 investors and recently managed to raise funds of around $293.1 Million.

The newest addition to their list of investors is - Mithril Capital Management and Mithril Capital Management. Below is the list of its investors:

Date Funding round Amount Investors
May 17, 2022 Series D $110M BlackRoad, Mithril
Sep 10, 2020 Series D $100M -
Mar 31, 2019 Series C $20M Mithril, BTB Venture
Aug 21, 2018 Series C $140M Mithril
Jan 05, 2015 Series B $31.2M Tiger Global Management, Blume Ventures, and 2 others

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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 is a privately held robotics manufacturer situated in the US that offers a wide range of warehouse robots in manufacturing and warehousing operations. The company has a revenue of $35 million.
  • 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. Currently, this French company has raised $330 million in its first round of funding.
  • Kiva Systems
    Amazon Robotics, formerly known as Kiva Systems has been in the market for quite some time. The company is based in Massachusetts, USA manufactures a mobile robotic fulfillment system. Being a part of the Amazon brand, this brand has about 900 parts 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. FANUC competes with GreyOrange in terms of revenue earned. The company had a revenue of $4.676 billion in 2020.

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GreyOrange - Partnership

GreyOrange partnered with Blue Yonder
GreyOrange partnered with Blue Yonder 

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 are planning 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 - Challenges Faced

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

GreyOrange - Future Plans

With the rising success in the domestic market, the founders of GreyOrange are planning to expand their business outside the country. Along with having offices in Singapore, Japan, Germany, and the USA, the company is planning to set up offices in the Middle East.

Their biggest aim is to enable customers to use their GreyMatter software to its highest potential and ensure retailers and eCommerce brands desire omnichannel operations.

Conclusion

While most of our Indian entrepreneurs have made services like ordering a cab or a hotel room more convenient, only a few have succeeded in incorporating industrial technologies, and GreyOrange is one of them.

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