Addverb Technologies, leading robotics company from India has announced strategic partnership with Reliance that will see Reliance invest upto 132 Million USD to become the largest shareholder. Addverb had earlier raised around USD 11 million in Series A and Pre-Series funding led by Shri. Jalaj Dani, Co-Promoter of Asian Paints, making its total funding close to 143 million USD, since its inception in June 2016. This round of funding will accelerate the company’s expansion in Europe and US and enable it to set-up the biggest Robotic manufacturing facility at a single location. This manufacturing facility will be completely automated and will propel India as a world leader in the robotic sector. Addverb also plans to start an innovation lab with bases in Europe, US and India where the best and likeminded brains will come together to solve the complex problems in the field of Human-Robotic collaboration.
Founded in June 2016, by Sangeet Kumar, Prateek Jain, Bir Singh, Satish Kumar Shukla and Amit Kumar, Addverb Technologies based out of Noida, India is now running successfully in its 6th year of operations with 100% subsidiaries in Singapore, Netherlands and Australia and provides products across four verticals in the automation domain – Robotics, Automated Storage & Retrieval Systems, Picking and Software. Addverb has deployed its robots across more than 100 customers and streamlined the processes for many companies across different industries like Retail, E-Commerce, Pharma, FMCG, Petrochemicals, 3PL etc. throughout the globe with its innovative products & solutions. Addverb has developed highly automated warehouses for brands such as Reliance, Flipkart, HUL, Asian Paints, Coca-Cola, Pepsi, ITC, Marico to name a few.
On closing the deal with Reliance, Mr. Sangeet Kumar, CEO & Co-founder, Addverb Technologies said, “Robotics is an evolving field and innovation is our core differentiator. We deploy 10 percent of our revenue on R&D which has played a pivotal role in helping us create an extensive product portfolio, which is unmatched across the world. Our extensive product portfolio covers the entire gamut of fixed and flexible automation solutions and has helped us to create some very unique and innovative solutions for the customers and allowed us to implement complex automation solutions in a short and smooth manner. This has opened up new markets for us. With growing urbanisation and the onset of Covid, companies are transforming supply chains across industries and Robotics will play a critical role in making these supply chains more agile and flexible.
“Reliance was already one of our esteemed clients with whom we had Co-created and delivered highly automated warehouses for their Jio-Mart grocery business. The comfort level and the trust factor were already in place which led to this association. This strategic partnership will help us leverage 5G, battery technology through new energy initiatives, advances in material sciences (carbon fibre) to deliver more advanced and affordable robots. This association will also provide us an opportunity to deploy robots at scale in omni-channel distribution centres across different segments like e-commerce, retail, grocery, fashion, pharma, digital and petrochemical. With this round of funding we are planning to deploy our Robots across hospitals and airports” added Kumar.
Addverb Technologies provides warehouse and factory automation products powered by Robotics, AI, Machine Learning, Deep Learning, Computer Vision and IoT. One of the glaring successes of Atmanirbhar Bharat, Addverb is the rare hardware and software startup from India which manufactures its own robots and develops the software to control these robots as well. This allows them to add unique and innovative features in their products and also provides for customisation and easy integration with the existing infrastructure and software systems of the customers. Addverb has exported its Robots to customers in countries like Australia, Singapore, Philippines, Britain, Vietnam etc.
Addverb has a capacity to manufacture a variety of 10,000 robots of various kinds in a year through its state of the art manufacturing facility, “Bot-Valley”. Their manufacturing unit was inaugurated by Shri. Amitabh Kant in March 2021 and is spread across 2.5 acres in Noida and has a capacity to produce all kinds of robots and co-bots including mobile robots, sorting robots, pallets shuttle, carton shuttle, Mother-Child ASRS, Pick-to-Lights etc. that helps in transporting/moving material inside factories and warehouses. Their software offering includes Warehouse Management System to control and optimise the inventory storage and warehouse processes, Warehouse Control System to communicate with different automation equipments and Material Handling Equipments and coordinate the flow of material throughout the warehouse and Fleet Management System, to control a fleet of Robots based on different navigation modules inside the warehouse. With the new manufacturing facility in FY 2022-23, the company would have capacity to produce 50,000 robots in a year.
Emergence of e-commerce boom, expansion of organised retail, implementation of GST and the focus on Make-In-India are some of the factors that have paved the way for the robotics and automation market in India and the onset of Covid has also led to higher adoption of Automation throughout the industries.