Indian robotics company which is backed by Tiger global- GreyOrange is currently evaluating a US listing to race between 500 to 600 million dollars.
The company is already into early-stage discussions with investment banks such as JP Morgan Bank of America and Morgan Stanley for the capital-raising initiative. The listing is expected to be at the end of 2021 or early next year.
With the new funding round for us listing the AI robotics company may be valued at $1.5 to 1.7 Billion.
The company officials said that the banks made presentations in the first week of the month. Talks are still exploratory.
Not only this the company stated that some of the bankers have proposed the SPAC route for the listing. Lastly, the company clearly stated that a fresh round of fundraising last year and the next round of funding is likely to be through a listing in the US. The company has almost become a global form now with large United States operations.
The sources suggest that the company has raised around 70 million dollars across four rounds from last year. At the last round, the company raised around 1 40 million dollars from investors led by Mythril Capital, started by Peter Thiel, PayPal’s official, at a $500 million valuation.
The company was founded by BITS Pilani alumni Samay Kohli and Akash Gupta. It had multiple rounds of fundraising and growing immensely in the long run.
