Robotics Firm GreyOrange Raises $140 Million in Series C Funding Round
A Singapore-headquartered robotics company GreyOrange has secured funds amounting to $140 million in a Series-C funding round. This round was led by Mithril Capital.
The other backers that participated in the funding round were Mitsubishi, Flipkart, Project Verte and Blume Ventures. The leading backer Mithril Capital is a venture firm co-founded by Ajay Royan and early Facebook investor Peter Thiel, with the valuation estimated to be between $400 million and $500 million.
The company is planning to deploy these funds to expand its supply chain and manufacturing capacity and double down on R&D.
“We see Mithril as a strategic investor as there is an alignment with their core technology focus. The investment from Flipkart will strengthen our relationship,” CEO Samay Kohli said.
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