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April 28, 2014

Deal Alert: Tiger Global, Blume, angels invest Rs.54-Cr in retail warehouse automation firm Grey Orange

Gurgaon-based Grey Orange Robotics, a start-up which builds robots that help online retailers automate their warehouses, has raised Rs.54 crore funding from New York-based investment firm Tiger Global and early-stage investor Blume Ventures. Two angel investors Raju Reddy and Dileep Nath also participated in the funding round.

Founded by two graduates from the Birla Institute of Technology and Science (BITS) in Pilani in 2009 - Samay Kohli, 27 and Akash Gupta, 24 - the company will use the funds to hire talent, increase research and development and expand in markets such as Singapore, Dubai and Germany.  

From the Venture Intelligence PE Deal database: In Jan-13, Blume along with Bits Spark Angels, The Hatch, GSF Accelerator founder Rajesh Sawhney and former Google executive Samir Sood invested Rs.2.5 crore in Grey Organge. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)

Source: Economic Times

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