Funding round
GreyOrange Series C
GreyOrange, which works in warehouse automation solutions development in Roswell, raised $140M in a Series C round announced on 6 Sep 2018, led by Mithril. 6 firms took part. It is GreyOrange's second venture round on record; the one before was a Growth in Aug 2015.
$140M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
GreyOrange did not disclose a valuation in this round. It came 37 months after GreyOrange's Growth. It is 34% of the $415M GreyOrange has raised in the venture rounds on record. GreyOrange raised again 44 months later: a Growth round of $110M in May 2022.
Investors
Who put money in
Mithril led the round with 5 other firms.
Lead investor
- backs 16 venture-backed companies new investor
Also in the round
- Binny Bansal new investor
- backs 117 venture-backed companies new investor
- Mitsubishi new investor
- Flipkart new investor
- Project Verte new investor
Joined the board: Ajay Royan (Mithril Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
225 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 4.0 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 21 Sep 2018 | $185M | $1.08B | CapitalG |
| ShareChat Tech Companies | 19 Sep 2018 | $99M | $460M | Shunwei Capital |
| Tech Companies | 18 Sep 2018 | $80M | $500M | Porsche Ventures |
| Tech Companies | 11 Sep 2018 | $50M | not disclosed | FOSUN and Morningside Venture Capital |
| Tech Companies | 28 Sep 2018 | $43M | not disclosed | Tiger Global |
| Tech Companies | 12 Sep 2018 | $38M | not disclosed | Napier Park Global Capital |
| Tech Companies | 26 Sep 2018 | $30M | $330M | Insight Partners and Madrona |
| Tech Companies | 27 Sep 2018 | $30M | $150M | Planven Investments SA and Planven |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did GreyOrange raise in its Series C round?
GreyOrange raised $140M in its Series C round, announced in Sep 2018.
Who led GreyOrange's Series C round?
Mithril led it, with Binny Bansal, Blume Ventures, Mitsubishi, Flipkart and Project Verte.
What was GreyOrange's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
225 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 4.0 times the median.
Did GreyOrange raise again after this round?
Yes: a Growth round in May 2022 of $110M.