Addverb Technologies

Addverb Technologies is establishing a 60,000-square-meter robot manufacturing plant in Noida, India, after receiving $132 million in funding from Reliance Industries. The facility will produce up to 60,000 robots per year and create over 3,000 jobs.

Reliance Retail Ventures Ltd. acquired a 54% stake in Addverb Technologies, a robotics company providing intra-logistics automation solutions, for $132 million. Addverb's manufacturing facility in Noida has capacity to make 50,000 robots per year.

Addverb Technologies has closed a $1 billion deal with Reliance Industries to supply Dynamo 200 robots for deployment at the Jamnagar refinery, with delivery spread over four to five years.

Addverb Technologies received orders worth around $1 billion from Reliance Industries for robots with 5G technology, to be deployed at the Jamnagar refinery over four to five years.

Reliance Retail invested $132 million in robotics startup Addverb Technologies, becoming its largest shareholder. The funds will accelerate expansion in Europe and the US and enable a new robotic manufacturing facility with capacity for 50,000 robots per year.

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.

Addverb Technologies inaugurated India's largest exclusive robot making factory in Noida, Sector 156, built on 2.5 acres at an estimated cost of Rs 75 crore. The facility manufactures industrial robots for packaging, courier segregation, and hospital applications.