Addverb Technologies, which provides robotics and automation tech to customers such as Reliance, Flipkart and Amazon said it is further expanding its presence across the markets of Europe, Singapore, and Australia. This strategic initiative stems from increased demand for robotics and automation solutions in the global market.
The global robotics market was valued at $27.73 billion in 2020 and is expected to reach $74.1 billion by 2026, registering a CAGR of 17.45 per cent, during the period of 2021-2026.
"We are taking Addverb Technologies global in the international robotics and automation marketplace,” said Sangeet Kumar, CEO and co-founder of Addverb Technologies. “With this expansion, we aim to provide an end-to-end product portfolio which will streamline warehousing and factory operations and will help customers create warehouses with higher levels of efficiency, accuracy and flexibility”
Established in June 2016, Addverb said it has witnessed a rapid growth and clocked an approximate revenue of around $ 27 million in FY 2020-21. It unveiled a manufacturing facility, ‘Bot-Valley’ which also houses a well-equipped R&D facility at Noida in March 2021. The company said it has one of the widest robotic and automation product portfolio. It has more than 100 customers including the likes of Reliance, Flipkart, Amazon, Hindustan Unilever, Coca-Cola, PepsiCo, Future Supply Chain and Marico.
Retailers and consumer-facing companies globally are looking at automation. The complexity of their operations are making the traditional solutions available in the market obsolete. Addverb is looking to fill this space with its customizable hardware and modular software. It has deployed a host of innovative warehouse robotic solutions with anchor customers across different sectors like FMCG, retail, e-commerce, fashion and lifestyle. The firm said its products have helped businesses to scale up fast and run operations in a smooth manner especially at the time of Covid.
The company said it has created a software platform, ‘Mobinity, a warehouse control system that helps in integrating different automation products in a single warehouse. With its manufacturing facility, the firm said it has the capability to deliver more than 50,000 robots of different types in a year. It has also deployed a micro-fulfilment centre for a leading e-commerce company based out of India. The firm said it aims to establish an innovation lab in the US and Europe with the aim to create a global workforce based out of different parts of the world.Read the full article