Read More>> BENGALURU: Artificial Intelligence-powered robotics company GreyOrange has raised $140 million in a Series-C round led by Mithril Capital, a venture firm cofounded by Ajay Royan and early Facebook investor Peter Thiel, with the valuation estimated to be between $400 million and $500 million, according to sources familiar with the matter. The other investors included Mitsubishi, Flipkart, Project Verte and Blume Ventures.
ET had reported last year that Japan’s largest conglomerate Mitsubishi was set to pick up a stake in GreyOrange, one of the rare hardware startups to come out of India. The round saw both primary and secondary transactions, and will see Royan join the company’s board. Before this, GreyOrange had raised $35 million.