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#News(Startup) [ via IoTForIndiaGroup ]
The company was started in 2011. Today it has five regional offices across the world — covering India, Singapore, Japan, Germany, and the U.S. — three R&D centers and more than 60 ‘installations’ of its tech with retail customers worldwide. Right now, GreyOrange’s two main products are a robot ‘butler’ that moves heavy shelves and installations around warehouses and a robotic ‘sorter’ belt that organizes packages, but the vision is to build something more holistic.
Mithril Capital, co-founded by legendary Silicon Valley investor Peter Thiel and Ajay Royan, led the funding round, GreyOrange said in a statement. Mithril recently raised its second fund of $850 million.Thiel, who over the years has backed a number of companies including Facebook, also co-founded digital payments company PayPal and Silicon Valley-based big data firm Palantir Technologies, before becoming a prolific investor.
“In three to four years we want to be the first in the world to achieve the goal of operating a fully-autonomous warehouse,” founders Samay Kohli and Akash Gupta told TechCrunch in an interview.
That’s a huge goal, and it puts the company in competition with established firms like Amazon-owned Kiva among others.
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