Reliance-backed Addverb seeks $100M as robotics demand surges
Synopsis
Addverb is pursuing a $100 million funding round as the Reliance-backed robotics company expands internationally. The move comes amid rising demand for warehouse automation and industrial robotics, with businesses across the United States, Australia and other markets increasing investments in productivity-focused automation technologies.
Addverb, a robotics firm from India, is hoping to bring in close to $100 million of fresh capital in another round of funding. The company's business is apparently picking up due to global business spending growth in warehouse automation and industrial robots.
The fundraising occurs while North American, European and Asian manufacturers, retailers and logistics companies are shifting toward diversifying technology supply chains and moving away from over-reliance on single production sites. Addverb, supported by Reliance Retail, aims to seize a bigger share of that increasing demand.
The company designs warehouse automation solutions, autonomous mobile robots and industrial robots for usage within distribution centres and manufacturing plants. Clients range across sectors like e-commerce, retail, consumer goods and logistics.
The robotics market is witnessing substantial investment driven by a host of factorsThe current investment round comes at a time when labor shortages, rising costs of warehouses, and supply-chain complexities have become key drivers for business investments into automation.
The IFR ranks China as the world's dominant market for industrial robots, consuming more than 50% of all the robots deployed globally.
The US is one of the quickest growing automation markets, followed by leading deployment of industrial robots in Germany, South Korea, and Japan.
The investment into robotics by businesses in Australia and the US represents a segment of their wider strategy toward increasing productivity, enhancing manufacturing capacity, and managing workforce challenges.
Global expansion and product development continue to be a central strategy for the company.
Addverb, established in 2016, has expanded from its roots in India into a global presence with operations in the US, Australia, Europe, the Middle East and Singapore. It operates a 270,000-sq-ft manufacturing facility located in Noida, where its robotics and automation products are produced for both Indian and international clients.
In 2022, Reliance Retail acquired a majority stake in Addverb and, ever since, the latter has gained significant funding while building upon its existing product range and expanding globally. Addverb also launched an industrial wheeled humanoid robot intended for use in warehouses and factories in addition to its portfolio of robotics solutions.
This potential funding will likely support expansion of manufacturing, new product launches and international expansion as the robotics industry heats up with increasing competition globally.
Industry research firms expect the global warehouse automation market to continue its growth path through the rest of the decade, supported by the increasing demand for e-commerce and the adoption of AI driven automation systems within the manufacturing sector.
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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