Reliance Retail acquires majority stake in Addverb
Reliance Retail Ventures acquired a majority stake in Addverb Technologies, backing the Indian warehouse-robotics company with USD 132 million.
Evidence notes
- Addverb said it would continue to operate independently after the Reliance transaction.
- The funding supported overseas expansion and a major robot manufacturing facility in Noida.
- The companies also planned collaboration around 5G robotics, battery systems and carbon-fiber robot structures.
Company context
Addverb builds warehouse and industrial automation systems including AMRs, sortation, shuttle AS/RS, picking stations, software and newer physical-AI platforms such as quadruped and humanoid robots.