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GreyOrange eyes a possible $600M US listing

greyorange us listing

Tiger Global-backed GreyOrange, a domestic robotics company is planning a US listing to raise $500-600 million. 

The company is already in talks with global investment banks like Bank of America, JPMorgan, and Morgan Stanley to raise capital, which is suspected to unfold by the end of this year or next year. 

Some bankers believe that the firm should choose the SPAC route for the listing.

GreyOrange has raised $270 million across multiple rounds. The AI company is expected to be valued at $1.5-1.7 billion by the time the US listing comes through. In the fourth and last funding round, the company raised $140 million led by investors like Mythril Capital at a valuation of $500 million.

Established in 2009 by Akash Gupta and Samay Kohli, both alumni of BITS Pilani, the company has Blume Ventures and Flipkart co-founder Binny Bansal as investors, besides Thiel and Tiger Global. 

The company employs AI and robots combined with software for warehouse fulfillment.

It is a proud moment for the nation when companies look to list overseas. If the listing is successful, GreyOrange will have huge opportunities to expand further.

Shishir Gupta, Founder and CEO, StartupLanes

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