Addverb Technologies

Addverb's stated vision is "Touching Lives By Pioneering Human-Robot Collaboration."

Addverb describes itself as "a global leader in robotics, offering innovative warehouse automation solutions with intelligent robots, powered by modular software."

Company's founding pitch (2018) was democratizing access to process automation by building systems in India and implementing them at roughly one-third the cost of MNC-integrated systems.

Addverb's own site lists industry pages for Automotive and Tyre, Consumer Goods, Grocery, Solar and Battery, Chemicals and Petrochemicals, E-Commerce, Pharmaceuticals, Third Party Logistics, Cold Storage, Fashion, and Semiconductors.

Within its first two years the company reported "marquee clients like MRF, Patanjali, Havells, Megha Fruits, Coca-Cola, Marico, Asian Paints, and ITC." (Reflects the company's early client roster as of 2018; not verified as current clients.)

Post-2022 investment, Reliance deploys Addverb robots "at scale in omni-channel distribution centers across different segments like e-commerce, retail, grocery, fashion, pharma, digital and petrochemical."

Co-founder Satish Kumar: "We were able to scale up because we did not confuse the businesses with our ability to build automation technology; we spoke about the value that we could drive into client businesses over a period of five years."

Addverb's about-us page states it operates 10 global offices, delivering automated warehouses directly to enterprise clients.

Mobile robots (autonomous mobile robot, assembly line robot, autonomous forklift, multi-carton picking robot), sorting robots, and ASRS (4-way pallet shuttle, mother-child shuttle, crane ASRS, carton shuttle) as listed in Addverb's product navigation.

Warehouse Management System, Warehouse Execution System, Warehouse Control System, and Fleet Management System, per Addverb's product lineup.

CEO Sangeet Kumar: "We deploy 10% of our revenue on R&D which has played a pivotal role in helping us create an extensive product portfolio, which is unmatched across the world."

Post-Reliance investment, Addverb planned to use the funds "to expand business overseas as well as set up one of the biggest robotic manufacturing facilities in Noida."

Client-turned-investor: "Reliance was already one of our esteemed clients with whom we had co-created and delivered highly automated warehouses for their Jio-Mart grocery business," said Sangeet Kumar, before RRVL invested $132M for a 54% stake in January 2022.

Jalaj Dani, co-promoter of Asian Paints, was an early investor in Addverb, contributing roughly $11 million across Series A and pre-Series A rounds.

Jalaj Dani later became Addverb's Chairman.

"Addverb designs and builds robotics and warehouse automation solutions for clients and the sale of such products constitutes 90% of its operating revenue." This income was Rs 282 crore in FY22, up 63.5% from Rs 172.5 crore in FY21.

"The company also generates revenue from installation and commission on sales which grew 91% to Rs 32.48 crore in FY22."

"The cost of materials consumed was the largest cost center and formed 60% of the overall cost which grew 42.4% to Rs 190 crore in FY22."

"Employee benefit expenses were another major expense, spiking 2X to Rs 84.55 crore in FY22 from Rs 40.87 crore in FY21."