The landscape of warehousing in India is undergoing a transformation, powered by the integration of robotic technology. As the Indian economy grows, so does the demand for efficient and streamlined supply chain operations. Robotics is emerging as a game-changing solution, addressing challenges related to labor shortage, operational efficiency, and accuracy.
India’s warehousing sector has traditionally been associated with manual labor-intensive processes, limited automation, and outdated infrastructure.
Yet, Addverb has embarked on a mission to reshape this perception entirely.
In a remarkable partnership, Mukesh Ambani’s Reliance Retail has secured a substantial 54 percent stake in Addverb, a dynamic robotics firm headquartered in Noida. With a transaction valued at USD 132 million (approximately Rs 983 crore), this collaboration underscores the significance of the startup’s endeavor to innovate warehousing and automation.
The money will be used by Addverb to establish the largest robot production factory in the world as well as to expand into foreign markets.
4 former executives of Asian Paints started this company
The company’s journey commenced when four former executives of Asian Paints, namely Sangeet Kumar, Prateek Jain, Satish Shukla, and Bir Singh, recognized a glaring gap in the market. While working at the colossal Asian Paints factory in Rohtak, India, they realized the scarcity of suppliers well-versed in both conventional and flexible automation. This gap left consumers grappling to find suitable providers who could comprehend their unique needs.
Sangeet Kumar, an IIT Kharagpur alumnus, currently serves as the CEO and co-founder of Addverb. He, along with Prateek Jain, an IIT Bombay alumnus and the COO, have amassed around 13 years of industry experience each in companies such as GAIL (India) Limited, ITC Limited, and Infosys. Satish Shukla brings over a decade of expertise from organizations like Infosys and technology roles, while Bir Singh boasts over 16 years of industry involvement, having worked with prominent names like JK White Cement Works Gotan and ITC Limited, alongside Asian Paints.
Expansion
Since its inception in 2016, Addverb’s trajectory has been nothing short of astonishing. From its origins in Noida, the company’s influence has radiated globally. Offices have sprouted across the United States, the Netherlands, Australia, Singapore, the UAE, and Germany, supported by robust research and development hubs in both India and the USA. The magic behind Addverb’s success lies in its diverse product range, encompassing Mobile Robots, ASRS (Automated Storage and Retrieval Systems), Picking Technologies, and Warehouse Management Software.
At its core, Addverb stands as an embodiment of intra-logistics automation solutions. The company specializes in conceiving and constructing robotics and automation systems geared toward warehouses and factories. By automating the often tedious tasks linked to storage and the movement of goods within controlled environments, Addverb is redefining industry norms.
Working with Jio-mart and Unilever
A defining moment for Addverb arrived when they secured a monumental contract: designing and constructing seven automated warehouses for Jiomart. Against fierce competition from 20 other contenders, Addverb emerged as the preferred partner. This achievement marked a significant turning point for the company, affirming their prowess and innovation in the realm of intra-logistics automation.
Another pivotal juncture came when Addverb successfully delivered a fully automated warehouse for Unilever.
Addverb’s offerings extend beyond traditional warehouses and factories. They’ve expanded their reach to include hospitals and airports, utilizing their end-to-end product portfolio to drive complete automation and enhance throughput and accuracy levels. The company places worker safety at the forefront, with their voice-directed picking technology being language agnostic, capable of understanding up to 14 Indian languages. Employing cutting-edge technologies like IoT, Machine Learning, Robotics, ASRS, Shuttle, Artificial Intelligence, and Augmented Reality, Addverb optimizes supply chain operations.
They are gearing up to establish an innovation lab, further accentuating their commitment to ongoing research and development. As they continue to reimagine the landscape of warehousing and automation, Addverb’s partnership with Reliance Retail solidifies their position as a visionary force in this rapidly evolving industry.