Robotics firm Addverb eyes Rs 4,000 crore revenue in India

NEW DELHI: As India gets prepared to become a hub of innovation for industry 4.0 technologies, automation and robotics firm Addverb Technologies is set to invest more towards manufacturing and R&D in a big way in the country, aiming to generate Rs 4,000 crore in revenue in the next two years, the company said on Sunday.

Addverb Technologies in March this year inaugurated its Rs 75 crore manufacturing facility in Noida, Uttar Pradesh, that will employ 450 people and enable rapid innovation, adaption, optimisation and agile delivery of made-to-order robotics. The facility called 'Bot Valley' has a capacity to manufacture more than 50,000 robots of varied types in a year, and is equipped with best-in-class electronics and mechanical machines.

"The company aims to become the world leader for the mobile robotics segment and intends to make India the factory of the world and a hub of innovation for industry 4.0 technologies," Sangeet Kumar, CEO and Co-founder of Addverb Technologies, told IANS.

"In the next two years, we aim to generate revenue of Rs 4,000 crore and are looking forward to penetrating consumer industries such as education, hotels, and airports through another level of breakthrough solutions," Kumar added.

Established in 2016 and mentored by Jalaj Dani, Addverb Technologies have streamlined the process for many retail giants of the country through its innovative products and solutions.

It has established a global footprint by acquiring customers in Europe, South-East Asia and Australia, and established 100 per cent subsidiary companies in Singapore, Australia and The Netherlands. The end goal, said Kumar, is to pioneer human-robot collaboration to deliver affordable and sustainable technological solutions. (IANS)

Also Read: Death of Brajendra Nath Sarma Baruah widely condoled in Lakhimpur district

Also Watch: