Blume, Tiger Global invest $30m in warehouse robotics start-up

GreyOrange will use the funds for the research and development of new products, to grow its executive team, and to expand into international markets, including Asia Pacific, the Middle East and Europe. The company already has headquarters in Gurgaon and Singapore, and an office in Hong Kong.

GreyOrange's main product is the Butler, a system of autonomous robots that are designed to manage inventory and transfer products within warehouses. Its 12 clients in India include such e-commerce giants as Flipkart and Amazon, as well as prominent last-mile logistics firm Delhivery, which recently raised a $85 million Series D round. GreyOrange claims to control as much as 95% of the country's warehouse automation market.

Logistics automation is a sector with a high amount of interest, given the rise of India's online retail sector and the need for delivery services. Many companies see robots as a way to increase the speed and accuracy of their delivery operations without having to budget for new employees.

Blume's investments in India's logistics space include an $11 million Series A round for business to business delivery service RoadRunnr in July. The firm is currently investing out of its second venture capital fund, which launched in 2014 with a target of INR3.6 billion ($59 million).

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• Topics
• South Asia
• Support services
• Expansion
• Venture
• India
• Tiger Global Management
• Blume Ventures
• Logistics
• Growth capital