Reliance-backed Addverb Technologies to raise over $100 million for global expansion
Addverb Technologies, the Indian robotics startup backed by Reliance Industries, is set to raise over $100 million to boost its global reach and develop new tech.
Since starting in 2016, Addverb has built robots for logistics, manufacturing, and healthcare, and now operates in the US the Netherlands, and Australia.
Addverb expects ₹1,300 cr revenue
CEO Sangeet Kumar says the fresh funds will go into building advanced humanoid and four-legged robots and smarter AI systems, with lidar sensors planned separately.
The goal: rely less on imports and take on big players from China, Japan, and the US
Addverb expects to hit ₹1,300 crore ($136 million) in revenue this fiscal year (FY27, the fiscal year through March 2027), half from international clients, and aims for adjusted profitability by FY27, net profit in the following year, with an IPO once revenues cross ₹4,000-5,000 crore.