GreyOrange: College project to global leader in 12 years!

Hey there,

Blume Ventures-backed GreyOrange has recently raised $135 million from its existing investors!

With its current valuation of around $900 million, could it be India's next unicorn? 🤔

First here is some quick context: The story of GreyOrange began in 2011 at BITS Pilani where Samay Kohli and Akash Gupta, built a humanoid robot as a college project. Little did they know, this project would evolve into GreyOrange, a major player in warehouse automation, now operating globally.

The Gurgaon-based startup's journey to nearly a billion-dollar valuation has been fueled by over $400 million in funding. But what were the key factors that led to this massive growth?

1. Going global early on: Starting with Flipkart as one of their major clients, GreyOrange built a strong reputation. This success opened doors to international markets like Germany, Japan, the US, etc.

Today, a mere 10% of their business comes from India, with the rest spread across these global markets.

2. Relentless focus on R&D: Recognizing competition from industry giants like Alibaba and Amazon Robotics, GreyOrange has significantly invested in research and development.

Over 50% of their workforce is dedicated to R&D, which shows their commitment to staying at the forefront of innovation.

Not only that, even those in non-technical roles are ensured to have some level of technical background.

3. Customer-centric solutions: GreyOrange listens to what their teams and clients need. They've mastered the art of creating simple, user-friendly hardware, backed by complex, powerful software.

This approach ensures their customers have a hassle-free experience.

GreyOrange started with building humanoid robots and has grown into one of the world's largest automation companies.

This is the essence of great startups. A small, driven team believes they can outdo larger, well-funded companies. And often, they do just that :)

✍️ Jargon of the day

Automation:

Automation is like setting up a robot to do your tasks. Imagine you have a boring job, like sorting emails or turning off lights. Instead of doing it yourself every time, you program a machine or computer to do it for you.

This way, the task gets done faster and you can focus on more interesting things. It's like having a helpful assistant who never gets tired.

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Cheers,
Karthik