GreyOrange, one of the world’s leading robotic automation companies, is moving beyond serving e-commerce markets and towards verticals including medicine and automotives.
The hardware startup has a 92 per cent market share of India’s warehouse automation business and plans to enter the medical and automotive sectors.
The Singapore-headquartered startup, which designs, manufactures and deploys advanced robotics systems for logistics and warehouse management, completed a US$30 million Series B funding last August, led by Tiger Global Management and Blume Ventures.
Nalin Advani, CEO of Asia Pacific at GreyOrange, said the startup has been in talks with major third party logistics companies, regional players and key system integrators.
“New markets will benefit us by growing our addressable market and allows us to cross-pollinate innovative ideas across markets. This will also benefit our partners and customers,” he said.
James Chan, International VP at GreyOrange added: “That’s the next phase of our market expansion, going deeper into the verticals to make our product relevant for each of these verticals. Going beyond just e-commerce and retail.”
The five-year-old company, which has a 500-plus strong workforce, is also expected to expand into mainland China and the Middle East. The startup has offices in India, Hong Kong, Japan and Singapore.
GreyOrange is also updating one of its flagship products, The Butler, which automates inventory management.
“We are now adding functionality that improves performance of the put-process through a well thought out sequence of interactions by the warehouse worker with the butler system,” Nalin said.
“This means clients will achieve higher throughput, shorter ROI, greater scalability, faster ramp-up times, and as a result they will improve their profitability while also broadening their reach,” he said.
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