A homegrown robotics company that counts HUL, Reliance, Flipkart, Asian Paints and Coca-Cola among its key clients
Addverb Technologies is a homegrown robotics company that wants to touch human lives by pioneering human robot collaboration. Instituted in the summer of 2016 by seasoned professionals and technocrats, it has focused on providing end-to-end automation solutions and follows a 4D (Discover-Design-Deploy-Dedicated Support) approach, which ensures that the right automation solution is provided for a customer’s problem, right from discovering the problem to designing the solution and selecting technology mix to project execution and after-sales support. Since it make its own hardware and software, that gives it an advantage as the product can be customised to meet any specific business process of the customer.
“Earlier, the automation players were only Italian, German and UK companies whose products were standardised with little scope for customisation,” recalls Sangeet Kumar, CEO and co-founder at Addverb Technologies. “They were extremely expensive too, so only the big players could afford automation; this limited the knowledge of automation to small and medium sized companies. Moreover, the large players that had some automation used to face a lot of challenges with the installed solutions.”
Like Kumar, the other co-founders of Addverb are all ex-Asian Paints executives—Prateek Jain (COO), Neeraj Sharma (CTO), Bir Singh (chief of business development), Satish Kumar Shukla (CMO) and Amit Kumar (CIO).
Basically, Addverb automates the material handling process in warehouses and factories using technology like autonomous mobile robotics (AMR), automated storage and retrieval system (AS/RS), shuttle robots, picking technologies along with in-house developed software suite comprising warehouse management system, warehouse control system, fleet management system and asset tracking software. Kumar says, “With a diversified and innovative product portfolio, in a short span of four years, we have automated warehouses for brands such as HUL, Reliance, Flipkart, Asian Paints, Coca-Cola, Pepsi, Havells, Marico, Varun Beverages, etc.”
Addverb has set up a manufacturing facility in Noida, where “robots make robots and it is one of its kind in the entire world,” says Kumar. The manufacturing facility comprises an advanced electronic manufacturing line, fully automated tool room, paint booth, machine shop and automated assembly sections and material storage.
“Innovation being at the core of our DNA, we spend 10% of our revenue on R&D which has not only played a pivotal role in creating the extensive product portfolio that we host but has shaped our journey by making these products affordable to a lot of SME businesses,” says Kumar.
Addverb raised seed and Series A funding from Asian Paints’ founder Jalaj Aswin Dani. “With a revenue of Rs 100 crore for the FY 2020, and an y-o-y growth rate of above 300% since inception, we have already met the break-even point and are making profits,” he says.
Addverb now plans to become a leading player in the mobile robotics segment. In the next three years, it is targetting a revenue of Rs 5,000 crore.