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Reliance acquires 54% stake in Addverb Technologies for $132 million · Endata

◂ Announcements

Jan 18, 2022ACQUISITIONNoida, Uttar Pradesh, India

Reliance acquires 54% stake in Addverb Technologies for $132 million

Reliance Industries acquired a 54% stake in Addverb Technologies for $132 million in a Series B round, valuing the company at $270 million. Addverb will use the funds to expand overseas and set up a robotic manufacturing facility in Noida.

Value

$132.0M

Status

Announced

Productsrobotsautomation solutions

CompaniesReliance Industries acquirer Addverb Technologies target

Sectors#Automation and Robotics #Material Handling

“Our strategic partnership with Reliance, led by an investment of 132 million USD in our Series B round, will help us deliver more advanced and affordable robots.”addverb.com

1 source
addverb.comReliance Acquires 54% Stake In Addverb Technologies ...Jan 18, 2022

Summarized from public sources; check the original articles before acting on it.

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