Addverb chases $100M raise to arm Reliance, Lenskart, HUL with humanoid warehouse robots
Reliance-backed Addverb Technologies is sounding investors for a $100M+ round to scale humanoid robots, AI and lidar, building on a $200M order book and Rs 1,300 crore FY revenue. Half its sales come from overseas, and the Noida-based firm is eyeing an IPO within two years as Indian retailers automate fulfilment.
Reliance-backed warehouse robotics maker Addverb seeks $100M+ to fund humanoid robots, AI and lidar development. Counts Reliance, Lenskart, HUL as customers; targets IPO at Rs 40-50B revenue, possibly within two years.
Why this matters
Addverb's raise signals deepening automation spend by Indian retailers like Reliance, Lenskart and HUL, as fulfilment scales and humanoid robotics moves from pilot to deployment.
Retail-company activity steady at 2,524 signals over the last 90 days.