GREYORANGE FUNDING
Startups write a $1.5-billion twist in winter’s tale
December brings the highest monthly fundraise of 2023, though the annual total is the lowest in 7 years.
ETtech Deals Digest: Indian startups raised $908 million this week buoyed by Flipkart’s mega funding
A total of 19 startups raised a cumulative of $908 million between December 16- 20, as per Tracxn data shared with ETtech.
Fulfilment automation startup GreyOrange raises $135 million from Anthelion Capital, others
Existing investors Blume Ventures, Peter Thiel's Mithril Captial and Flipkart founder Binny Bansal's 3State Ventures also participated in the funding round.
Flipkart’s $1 billion fundraise; Zomato offers to acquire Shiprocket
Ecommerce giant Flipkart is in the middle of closing a $1 billion funding round in which Walmart has committed $600 million. This and more in today’s ETtech Top 5.
Blume Ventures sees five-fold gain from first fund
Through its first fund – a rupee-denominated fund – Blume Ventures began investing in 2011, and has backed startups such as GreyOrange, Carbon Clean, Cashify, Purplle, Zopper, Taxi For Sure and WebEngage.
Terra’s aftershocks torment crypto
This week, Terra’s creator Do Kwon was fined $78 million by tax authorities and faces an investigation in South Korea, another stablecoin lost its peg to the dollar, and regulators vowed to rein in the controversial assets.
ETtech Deals Digest: D2C startups steal the show
Neso Brands, GreyOrange and Fashinza collectively raised over $300 million.
Winter is coming, Y Combinator warns; startups show solidarity amid layoffs
The famed Silicon Valley startup accelerator has told founders of all its portfolio companies to hunker down, cut costs and extend their runways “within the next 30 days”.
GreyOrange raises $110 mn from Peter Thiel’s Mithril Capital, others
Mumbai-based Blume Ventures is also an investor in the company, which provides software and hardware that automates multiple functions in warehouses for companies such as Walmart, H&M, COS, Coupang and GXO Logistics.
Now, Cars24 sacks 600 employees; small online sellers face CCI heat
The company, which is backed by SoftBank and Alpha Wave Global, joins a growing list of startups that have fired employees to conserve cash amid a slowdown in funding.
Deal with it
In today's ETtech Morning Dispatch: Tata-BigBasket deal; Byju's may land new funds; and GreyOrange eyes US listing.
Robotics company GreyOrange eyes $600 million via US listing
The artificial intelligence robotics company may be valued at $1.5-1.7 billion
Blume raises $41 million to back its portfolio companies
The money was raised from both domestic as well as international investors, many of whom are existing investors, it said in a statement.
Robotic cook developer, Nymble, raises funding from 021 Capital & WaterBridge Ventures
Julia is a domestic cooking robot, it utilises AI and machine learning capabilities to learn about user taste & preference and is capable of cooking most single pot meals.
Investors add Rs 50k cr fuel to India’s startup engine in 2018
Nearly 50 startups, including Swiggy, Zomato, PolicyBazaar, GreyOrange and Udaan, are among those which have soaked up mega cheques of over $100 million apiece.
GreyOrange gets $140 million from Thiel’s fund, Mitsubishi
GreyOrange, founded by BITS-Pilani graduates Samay Kohli and Akash Gupta, produces up to 1,500 robots a month and has R&D centres in the US, China and India.
Mitsubishi may pick up stake in GreyOrange
The investment, being structured via convertible note, could value robotics firm at between $300 million & $500 million.
Believe it or not, dozens of startups are hiring amid all the gloom
BankBazaar, online marketplace for rates on loans, credit cards and other personal finance products, has announced plans to hire 400 workers to strengthen business growth.
From a potent weapon of business success, is pivoting turning into a face-saving strategy for failing startups?
Pivoting is essentially a course-correction that can range from a tweak in product or service to a major overhaul of a business that has hit a brick wall.
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