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Addverb Technologies

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Addverb Technologies
Company typePrivate
IndustryLogistics automation
Founded2016
Headquarters
Noida
,
India
Area served
Worldwide
Key people
  • Sangeet Kumar (co-founder & CEO)
  • Bir Singh (co-founder)
  • Prateek Jain (co-founder)
  • Satish Shukla (CHRO and co-founder)
  • Jalaj Dani (chairman)
Number of employees
800+[1] (2024)

Addverb Technologies is a robotics and automation company headquartered in Noida, India.[2][3] Founded in 2016, the company develops industrial robotics and automated warehousing systems.[4]

The company operates in various regions, including India, North and South America, Southeast Asia, Europe, the Middle East, and Australia. It has subsidiaries in Singapore, the Netherlands, Australia, and the United States.[2][5]

In 2022, Reliance Industries Ltd.'s retail division acquired a 54% stake in the company for $132 million.[2]

History

[edit]

Addverb was founded by former Asian Paints executives Sangeet Kumar, Bir Singh, Prateek Jain, and Satish Shukla,[6][7] who worked on automation projects for the company.[8] Addverb began with the manufacturing of Pallet Shuttle systems and later expanded into autonomous mobile robots (AMRs), automated storage and retrieval systems (AS/RS), and sortation systems.[9] Addverb also developed warehouse management software to support these systems.[4]

Jalaj Dani, co-promoter of Asian Paints, became an early investor and later assumed the role of chairman.[3] In 2017, the company received pre-seed funding and additional investment from GAIL for procurement and R&D.[2] In 2018, Addverb opened a 7.5-hectare robot manufacturing facility in Noida, Uttar Pradesh, with an annual capacity of 60,000 robots.[2] The company partnered with Intel the same year[8] and raised another $10 million from Jalaj Dani in 2019.[10]

In 2022, Reliance Industries Ltd. acquired a 54% stake in Addverb for $132 million.[2] By 2024, the company had expanded with a second factory, Bot Verse, in Greater Noida. This facility, covering over 600,000 square feet and built with an investment of ₹200 crore, was reported to be the largest robotics manufacturing plant,[10][11] with an annual production capacity of 100,000 robots.[12][4] It was inaugurated by Uttar Pradesh Chief Minister Yogi Adityanath.[13][14][15] In 2024, Addverb launched three new robots at LogiMAT India: Trakr, an assistive robot;[16] Heal, a medical collaborative robot (cobot) for rehabilitation and imaging; and Syncro, a cobot for operational efficiency and safety.[17]

In May 2024, Sriram Sridhar was appointed CEO of Addverb's US subsidiary, Addverb Americas. The company expanded in FMCG through partnerships with Unilever, PepsiCo, ITC, and Dabur, and entered the chemicals and petrochemicals industries.[8][2]

Operations

[edit]

Addverb operates two manufacturing facilities in India. The first, Bot Valley, located in Noida, began operations in 2021 and focuses on producing robots for warehouse automation.[18] The second facility, Bot Verse, located in Greater Noida, covers 600,000 square feet and has a production capacity of 100,000 robots per year.[19] The company also has an R&D center in the US and Bangalore, software centers in Noida and Pune, and offices in North America, the Netherlands, Germany, Australia, Singapore, and Malaysia.[20]

Awards & recognition

[edit]
  • ETRise TOP MSMEs Ranking 2021[21]

References

[edit]
  1. ^ Sabharwal, Punita (28 January 2024). "The Robotic Guy: Sangeet Kumar, CEO and Co-Founder, Addverb". Entrepreneur.
  2. ^ a b c d e f g Singh, Mukul Yudhveer (2022-03-14). "Why Reliance Invested $132 Mn in Robotics Startup Addverb?". Inc42 Media. Retrieved 2024-09-17.
  3. ^ a b Dutta, Arnab (2024-01-09). "India's coolest start-ups: Meet the founders of automated solutions provider Addverb Technologies". Business Today. Retrieved 2024-09-17.
  4. ^ a b c www.ETInfra.com. "Inside India's largest robotics company enabling warehouse automation - ET Infra". ETInfra.com. Retrieved 2024-09-17.
  5. ^ Kachari, Dev. "Reliance Retail-backed Addverb Technologies aims to become a billion dollar company in five years - ET Infra". ETInfra.com. Retrieved 2024-09-17.
  6. ^ "Know the Company : What is Addverb Technologies; Reliance Retail's latest acquirement". Money Control.
  7. ^ www.ETHRWorld.com. "Why this company does not bucket leaves in different categories - ETHRWorld". ETHRWorld.com. Retrieved 2024-09-17.
  8. ^ a b c Dixit, Pranav (2024-08-03). "Addverb's robotics revolution: CEO Sangeet Kumar discusses growth, innovation, Intel partnership, future plans". Business Today. Retrieved 2024-09-17.
  9. ^ Kachari, Dev. "LOGISTICS: Behind the scenes of India's largest robotics company: Addverb | ET Infra". ETInfra.com. Retrieved 2024-09-17.
  10. ^ a b Nair, Geeta (2024-03-01). "Addverb Technologies launches cobots, assistive dog robots". FE Tech Bytes. Retrieved 2024-09-17.
  11. ^ "Addverb is India's largest robotics firm, thanks to Yogi Govt". The Statesman. 2023-06-27. Retrieved 2024-09-17.
  12. ^ Bhatnagar, Rishabh (2024-01-03). "Addverb's Bot Verse: Exploring The 'World's Largest' Mobile Robot Factory". NDTV Profit. Retrieved 2024-09-17.
  13. ^ Baruah, Ayushman. "Addverb's mega robot-making unit in UP touted to power 3,000 jobs".
  14. ^ "Industry captains to join U.P's new growth trajectory".
  15. ^ "From 400 sq ft to over ₹400 crore: U.P. start-up exporting robots to US, Europe & other developed nations".
  16. ^ "Meet Trakr: 'India's first robot dog' that can 'sniff out' danger". The Times of India. 2024-02-29. ISSN 0971-8257. Retrieved 2024-09-17.
  17. ^ "Addverb unveils India's first-ever assistive dog robot, a medical cobot and a collaborative robot". The Hindu. 2024-02-28. ISSN 0971-751X. Retrieved 2024-09-17.
  18. ^ Chowdhary, Sudhir (2024-03-18). "How Addverb is building a robotic workforce". Financialexpress. Retrieved 2024-09-17.
  19. ^ Kachari, Dev. "Inside India's largest robotics company enabling warehouse automation - ET Infra". ETInfra.com. Retrieved 2024-09-17.
  20. ^ "Meet the four founders of Addverb, the company revolutionising warehousing and robotics whose biggest shareholder is Mukesh Ambani". Financialexpress. 2023-08-18. Retrieved 2024-09-17.
  21. ^ "ETRise Top MSMEs Ranking 2021". @EconomicTimes. 2022-08-01. Retrieved 2024-09-17.
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