# 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.

- Type: Acquisition
- Announced: 2022-01-18
- Where: Noida, Uttar Pradesh, India
- Value: $132.0M
- Status: announced
- Products: robots, automation solutions
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md), [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Reliance Industries](https://endata.com/companies/1562.md) (acquirer)
- [Addverb Technologies](https://endata.com/companies/53647.md) (target)

## Sources

- [addverb.com](https://addverb.com/press-release/reliance-acquires-54-stake-in-addverb-technologies-for-132-million/), 2022-01-18: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.