Addverb Technologies, which offers robotics and automation technology to clients such as Reliance, Flipkart and Amazon, is expanding its presence in markets in Europe, Singapore and Australia. This strategic initiative results from the increased demand for robotics and automation solutions on the world market.
The global robotics market was valued at $ 27.73 billion in 2020 and is projected to reach $ 74.1 billion by 2026, recording a CAGR of 17.45 percent over the 2021-2026 period.
“We lead Addverb Technologies globally in the international robotics and automation market,” said Sangeet Kumar, CEO and co-founder of Addverb Technologies. “With this expansion, we aim to offer an end-to-end product portfolio that will streamline inventory and factory operations and will help customers create warehouses with greater efficiency, accuracy and flexibility.”
Founded in June 2016, Addverb says it has grown rapidly, generating approximate sales of around $ 27 million in FY2020-21. In March 2021, a manufacturing facility called “Bot-Valley” was unveiled, which also houses a well-equipped R&D facility in Noida. The company said it has one of the broadest robotics and automation product portfolios. It has more than 100 customers including Reliance, Flipkart, Amazon, Hindustan Unilever, Coca-Cola, PepsiCo, Future Supply Chain and Marico.
Retailers and consumer-centric companies around the world are looking for automation. The complexity of their operations makes the traditional solutions available on the market obsolete. Addverb wants to fill this space with its customizable hardware and modular software. It has deployed a variety of innovative warehouse robot solutions with anchor customers from various sectors such as FMCG, retail, e-commerce, fashion and lifestyle. The company said its products have helped companies scale quickly and run smoothly, especially in times of Covid.
The company said it has developed a software platform, “Mobinity,” a warehouse control system that helps integrate various automation products into a single warehouse. With its production facility, the company claims it has the ability to deliver more than 50,000 robots of various types per year. It has also set up a micro-fulfillment center for a leading e-commerce company based in India. The company said it plans to set up an innovation lab in the US and Europe to help create a global workforce from different parts of the world.
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