Tiger Global Leads $30M Investment In E-Commerce Robotics Firm GreyOrange
Robotics is the latest area of interest in India for Tiger Global, after the New York-based hedge fund led a $30 million investment in GreyOrange, a company that automates e-commerce and logistics processes.
Tiger Global has been on a prolific spending spree in India since raising $2.5 billion in new funds last year. Recent investments have included media startup News In Shorts, music streaming service Saavn, Uber rival Ola and fashion scrapbook service Limeroad. The firm led this Series B round for GreyOrange, which included participation from existing investor Blume Ventures.
GreyOrange is registered out of Singapore, and it counts more than 300 staff — 200 of which are engineers — across offices its offices in Hong Kong, Gurgaon, Mumbai, Delhi, Bengaluru, Hyderabad, and Singapore.
The firm uses advanced robotics to add efficiency and speed to the handling processes within the e-commerce and logistics space. Put more simply, it uses clever robots to speed up the way companies process your orders in their warehouses.
For example, its Butler robots rush around a warehouse floor collecting products that are due to be dispatched to customers. Its system also audits inventories, and restocks supply based on demand to ensure that stock doesn’t run out. GreyOrange’s other offering, Sorter, handles package sorting, the final step before your e-commerce order is dispatched to you.
Touting Tiger Global’s investment in e-commerce firms as a potential door-opener, GreyOrange said it plans to uses the new capital to invest in R&D, beef up its executive team and “accelerate” its international expansion plans. In particular, it has eyes on the wider Asia Pacific region, the Middle East and Europe.
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