Addverb Technologies, a robotics company, will set up the world’s largest manufacturing facility in Noida.
Recently, Reliance Industries (RIL) said it will invest $132 million in Addverb Technologies to fund its expansion plans.
The new plant, spread over 60,000 sq metres, will create job opportunities and lead to direct and indirect employment for over 3,000 people.
The new manufacturing facility called Bot-Valley in Noida will be 10 times bigger than the current factory.
“This brand-new facility will make Addverb a giant robot manufacturer on global fronts, by delivering cutting edge software and robust hardware systems, along with a mix of innovative fixed and flexible automation solutions,” said Sangeet Kumar, Founder and CEO of Addverb Technologies.
The world’s biggest robotic manufacturing facility — at a single location — will be able to manufacture up to 60,000 robots per year of different specifications and categories. Addverb can scale the robotics manufacturing capacity up to 10 times in order to build only a particular type of robot.
This will complement Bot-Valley, Addverb’s existing assembly manufacturing facility based out of Noida.
According to a recent study the global warehouse robotics market size is expected to grow from $4.7 billion in 2021 to $9.1 billion by 2026.
Addverb has provided warehouse automation solutions to companies across the spectrum, including Unilever, Reliance, Flipkart, Amazon, PepsiCo, Coca-Cola, Marico, Dabur, ITC and Patanjali, among others.
Prior to RIL’s investment, Addverb raised around $11 million in Series A and Pre-Series funding, led by Jalaj Dani, co-promoter of Asian Paints, taking its total funding close to $143 million since its inception in 2016.