Robotics firm Addverb eyes Rs 4,000 cr revenue in India in 2 yrs

Robotics firm Addverb eyes Rs 4,000 cr revenue in India in 2 yrs.(Photo Credit: Glassdoor)

New Delhi, (Asian independent) 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.

“We have been able to build a world-class team of 400 engineers and have bagged more than 100 customers, including HUL, Marico, Reliance, Flipkart and Amazon etc,” informed Kumar.

The company has also partnered many companies to expand its reach and distribution of products and solutions in the market.

“We have received a good response from our Indian partners to establish as one of the best robotics companies in India and we are looking forward to a similar support in the international space to expand our capabilities,” Kumar stressed.

Some of its prominent partners include Deloitte India, Barcode India, Quodenext, Stallion, Nilkamal, Racks & Rollers and Magic Aisles etc.

The 2.5-acre manufacturing unit called ‘Bot Valley’ will house cutting-edge robotics and digitalisation technologies.

“Our aim is to make Noida and India the capital of global robotics industry,” Kumar said.

According to global market research firm Technavio, the industrial automation and instrumentation market in India is poised to grow by $2.58 billion during 2020-2024, progressing at a CAGR of over 10 per cent during the forecast period.

“With this world-class facility, we will be able to project India as a R&D epicentre of the world and share knowledge and encourage Indian manufacturers to embrace our game changing technologies and become best-in-class manufacturers for local and global markets,” Kumar added.