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Mithril Capital Management company logo
Venture Capital
mithril.com

Investments

70

Portfolio Exits

11

Funds

3

Partners & Customers

1

About Mithril Capital Management

Mithril is a global investment firm founded by Ajay Royan and Peter Thiel. We provide capital to leading growth companies by partnering with teams who use technology to build transformative and durable businesses, often in industries long overdue for change. Each of these businesses is unique, but all face common challenges to unlocking long-term growth. We help navigate these critical inflection points by investing in size and with conviction.

Headquarters Location

Austin, Texas, 78701,

United States

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Latest Mithril Capital Management News

GreyOrange Raises $135 Mn To Boost Automation For Warehouses, Fulfilment Centres

Dec 21, 2023

SHARE SUMMARY The round was led by Anthelion Capital, with participation from existing investors Mithril, 3State Ventures and Blume Ventures GreyOrange will deploy the fresh proceeds to scale up its technology leadership, expansion and bolster adoption of its fulfilment orchestration platform in warehouses, distribution centres and retail stores The latest funding comes one year after the firm raised $110 Mn in growth financing round FOLLOW US FOLLOW US Robotics firm GreyOrange has raised $135 Mn (around INR 1,123 Cr), marking the first close of its Series D funding round led by Anthelion Capital (erstwhile Cowen Sustainable Investments), with participation from existing investors Mithril, 3State Ventures and Blume Ventures. The startup will deploy the fresh proceeds to scale up its technology leadership, expansion and bolster adoption of its fulfillment orchestration platform in warehouses, distribution centres and retail stores. Founded by Akash Gupta and Samay Kohli in 2012, GreyOrange specialises in designing, manufacturing, and deploying AI-based robotic systems for automating routine tasks in warehouses and fulfilment centres for major ecommerce and retail companies. With manufacturing units in India, China, and the US, and research and development facilities in various countries, including India, the company claims to have played a crucial role in managing warehousing operations for Indian companies like Flipkart, Myntra, Pepperfry, Mahindra Tractors and others. “As we scale our technology and enhance customer experiences and operational efficiency, we recognise that keeping the needs of our customers at the centre of our product and solution roadmap has proven essential for our customer’s success, as well as our own,” said Gupta. “Not only has GreyOrange automated the movement of goods within the warehouse, but the company has also built a network that optimises how retailers move their goods across their entire supply chain,” said Vusal Najafov, cofounder of Anthelion Capital. GreyOrange’s latest funding round comes one year after the firm raised $110 Mn in growth financing. A major portion of the infusion came from its existing investor Mithril Capital Management, along with new investors. So far, the company has raised close to $425 Mn in total funding. As per the 2023 Gartner Hype Cycle for Supply Chain Execution Technologies report, by 2027, more than 75% of companies are expected to integrate some form of cyber-physical automation into their warehouse operations. The Gartner report notes that as more and more companies are stepping up to employ robotics, they will likely manage diverse robot fleets from different vendors. This calls for standardised software for seamless integration, efficient task assignment and communication with other automation types like door or elevator controls.

Mithril Capital Management Investments

70 Investments

Mithril Capital Management has made 70 investments. Their latest investment was in GreyOrange as part of their Series D - II on November 24, 2023.

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Mithril Capital Management Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/24/2023

Series D - II

GreyOrange

$135M

No

3State Ventures, Anthelion Capital, Blume Ventures, and Undisclosed Investors

4

12/22/2022

Series D - II

Flex Logix

$4M

No

10/27/2022

Series E

Neocis

$40M

No

9

10/6/2022

Series C

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$99M

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10

10/3/2022

Series A

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$99M

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10

Date

11/24/2023

12/22/2022

10/27/2022

10/6/2022

10/3/2022

Round

Series D - II

Series D - II

Series E

Series C

Series A

Company

GreyOrange

Flex Logix

Neocis

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Amount

$135M

$4M

$40M

$99M

$99M

New?

No

No

No

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Co-Investors

3State Ventures, Anthelion Capital, Blume Ventures, and Undisclosed Investors

Sources

4

9

10

10

Mithril Capital Management Portfolio Exits

11 Portfolio Exits

Mithril Capital Management has 11 portfolio exits. Their latest portfolio exit was Fractyl Health on February 02, 2024.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/2/2024

IPO

$99M

Public

5

8/8/2023

Acquired

$99M

2

1/13/2022

Acquired

$99M

6

9/16/2021

Acquired

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$99M

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10

8/6/2021

IPO

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$99M

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10

Date

2/2/2024

8/8/2023

1/13/2022

9/16/2021

8/6/2021

Exit

IPO

Acquired

Acquired

Acquired

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

5

2

6

10

10

Mithril Capital Management Fund History

3 Fund Histories

Mithril Capital Management has 3 funds, including Mithril II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/18/2017

Mithril II

Multi-Stage Venture Capital

Closed

$850M

4

10/11/2013

Mithril Capital Management

$99M

10

3/1/2013

Mithril Capital Management Fund I

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$99M

10

Closing Date

1/18/2017

10/11/2013

3/1/2013

Fund

Mithril II

Mithril Capital Management

Mithril Capital Management Fund I

Fund Type

Multi-Stage Venture Capital

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Status

Closed

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Amount

$850M

$99M

$99M

Sources

4

10

10

Mithril Capital Management Partners & Customers

1 Partners and customers

Mithril Capital Management has 1 strategic partners and customers. Mithril Capital Management recently partnered with MagForce Nanotechnologies AG on May 5, 2015.

Date

Type

Business Partner

Country

News Snippet

Sources

5/21/2015

Partner

Germany

MagForce AG MagForce USA Inc. files Investigational Device Exemption for NanoThermTM Therapy to Treat Intermediate Risk Prostate Cancer

Mithril Capital Management , a growth-stage technology fund founded by Ajay Royan and Peter Thiel , along with MagForce AG , are investors and strategic partners in MagForce USA , Inc.

1

Date

5/21/2015

Type

Partner

Business Partner

Country

Germany

News Snippet

MagForce AG MagForce USA Inc. files Investigational Device Exemption for NanoThermTM Therapy to Treat Intermediate Risk Prostate Cancer

Mithril Capital Management , a growth-stage technology fund founded by Ajay Royan and Peter Thiel , along with MagForce AG , are investors and strategic partners in MagForce USA , Inc.

Sources

1

Mithril Capital Management Team

6 Team Members

Mithril Capital Management has 6 team members, including current Founder, Managing General Partner, Ajay Royan.

Name

Work History

Title

Status

Ajay Royan

Founder, Managing General Partner

Current

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Name

Ajay Royan

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Work History

Title

Founder, Managing General Partner

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Status

Current

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