Addverb Technologies to raise over $100 million for robots and lidar
Addverb Technologies, a fast-growing Indian robotics startup, is planning to raise over $100 million to develop advanced humanoid and four-legged robots, smart AI systems, and its own lidar sensors.
This would be its first major funding effort since Reliance Industries invested back in 2021 and now owns a controlling stake.
Addverb expanding in US Netherlands, Australia
Addverb isn't just sticking to India: it's expanding fast in the US the Netherlands, and Australia.
The company already works with warehouses and electronics giants worldwide and now has nearly 1,100 employees across more than two dozen countries.
CEO Sangeet Kumar says the company wants to break into the world's top 10 robotics companies within five years.
An IPO is also not immediate as the company targets ₹1,300 crore in revenue this year and hopes to turn profitable on an adjusted basis by March 2027.