Reliance-backed Addverb Technologies seeks $100M to develop humanoid robots and AI systems
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Summary
Addverb Technologies, a Reliance Industries-backed robotics company led by CEO Sangeet Kumar, is raising over $100 million to develop humanoid and quadruped robots, AI training systems, and proprietary lidar sensors. The company produces automation robots for logistics, warehousing, and electronics manufacturing, operating in over 25 countries with roughly half its revenue from outside India. It projects $136 million in revenue this fiscal year and ranks just outside the global top 30 in robotics market share. The funding aims to reduce reliance on imported components.
Key quotes
· 5 pulledAddverb Technologies, controlled by Reliance Industries and led by CEO Sangeet Kumar, is raising more than $100 million for humanoid and quadruped robot development plus AI training systems.
The company makes robots for sorting, material movement, and factory automation for logistics firms, warehouses, and electronics companies.
It operates in more than two dozen countries, with about half of revenue coming from outside India.
Addverb projects 13 billion rupees ($136 million) revenue this fiscal year and estimates it ranks just outside the global top 30 by robotics market share.
The funding will also support data collection and development of proprietary lidar sensors to reduce reliance on imported components.
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