Blume Ventures’s Fund I portfolio company GreyOrange Inc., an AI-driven fulfillment automation, announced the first close of its Series D funding, securing $135 million. 

The investment company added in its statement that the closure led by Anthelion Capital (formerly Cowen Sustainable Investments) reflects confidence in the company’s ability to drive technological advancements in global supply chain automation.  

GreyOrange's latest funding round also reflects a strong vote of confidence from existing investors such as Mithril, 3State Ventures, and Blume Ventures. Their continued support, coupled with significant capital from previous rounds, underscores their unwavering commitment to GreyOrange, it said. 

"GreyOrange is one of India's proudest deep tech exports and despite a massive shift in how warehouse automation is being adopted in the US, GreyOrange is nimbly shifting its business model for the best of Fortune500 retail and commerce companies and winning market share and confidence. We think it can be the first billion $ revenue company in deep tech from India and are proud to further back GreyOrange's growth aspirations, along with our existing partners and new investor Anthelion”, said Karthik Reddy, Blume Ventures.   

The company will deploy the growth capital to accelerate the company’s technology leadership, continue its global expansion, and further support the adoption of GreyOrange’s fulfillment orchestration platform in warehouses, distribution centers, and retail stores. 

“As we scale our technology and enhance customer experiences and operational efficiency, we recognize that keeping the needs of our customers at the center of our product and solution roadmap has proven essential for our customer’s success, as well as our own,” said Akash Gupta, co-founder, and CEO, GreyOrange. "This Series D funding amplifies our commitment to leadership within the AI and robotics orchestration space and affirms our thought leadership within this market."  

The overall growth seen in the warehouse automation sector will continue to be a strong tailwind for GreyOrange. According to the 2023 Gartner Hype Cycle™ for Supply Chain Execution Technologies report, “by 2027, over 75 per cent of companies will have adopted some form of cyber-physical automation within their warehouse operations.”