About Addverb
Addverb is a company based in Noida (India) founded in 2016 by Sangeet Kumar and Satish Shukla was acquired by Reliance Retail in January 2022. Addverb has raised $66.89 million across 6 funding rounds from investors including Reliance Retail, Reliance Industries and GAIL. The company has 768 employees as of October 08, 2024. Addverb offers products and services including Autonomous Mobile Robot, Warehouse Management System, and Robotic Sorter. Addverb operates in a competitive market with competitors including Third Wave Automation, RightHand Robotics, Kindred, GreyOrange and Agility Robotics, among others.
- Headquarter Noida, India
- Employees 768 as on 08 Oct, 2024
- Founders Sangeet Kumar, Satish Shukla
- Stage Minicorn
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Sectors
Transportation, Automotive & LogisticsIndustrial Goods & Manufacturing Technology
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Addverb Technologies Limited
- Jurisdiction Gautam Buddha Nagar, Uttar Pradesh, India
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Annual Revenue
$54.2 M (USD)39.89as on Mar 31, 2023
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Net Profit
-$6.99 M (USD)-2486.46as on Mar 31, 2023
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EBITDA
-$5.67 M (USD)-498.64as on Mar 31, 2023
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Total Equity Funding
$66.89 M (USD)
in 6 rounds
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Latest Funding Round
$16.29 K (USD), Grant
Mar 01, 2023
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Investors
Reliance Retail
& 6 more
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Employee Count
768
as on Oct 08, 2024
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Acquired by
Reliance Retail
(Jan 18, 2022)
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Products & Services of Addverb
Addverb offers a comprehensive portfolio of products and services, including Autonomous Mobile Robot, Warehouse Management System, and Robotic Sorter.
Handles material movement in warehouses for improved efficiency.
Manages inventory and operations in automated warehouses.
Facilitates sorting and processing of items in logistics.
People of Addverb
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Funding Insights of Addverb
Addverb has successfully raised a total of $66.89M across 6 strategic funding rounds. The most recent funding activity was a Grant round of $16.29 thousand completed in March 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Grant — $16,290
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First Round
First Round
(02 Oct 2017)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2023 | Amount | Grant - Addverb | Valuation |
investors |
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| Mar, 2021 | Amount | Series B - Addverb | Valuation | Reliance Retail , Reliance Industries | |
| Jun, 2019 | Amount | Series A - Addverb | Valuation | Smiti Holding and Trading |
Investors in Addverb
Addverb has secured backing from 7 investors, including institutional and angel investors. Prominent investors backing the company include Reliance Retail, Reliance Industries and GAIL.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability
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Founded Year | Domain | Location | |
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Retail chain offering diversified products
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
Investments & Acquisitions by Addverb
Financial Statements - Addverb
Addverb Comparisons
Competitors of Addverb
Addverb operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Third Wave Automation, RightHand Robotics, Kindred, GreyOrange and Agility Robotics, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
AI and cloud-driven automation is delivered for warehouse material handling.
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| domain | founded_year | HQ Location |
AI-enabled robotic grippers for object picking are provided.
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| domain | founded_year | HQ Location |
Provider of a pick and place robot for e-commerce applications
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| domain | founded_year | HQ Location |
AI and SaaS-based robots for warehouse automation are provided.
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| domain | founded_year | HQ Location |
Bipedal robots are developed for locomotion, navigation, and manipulation applications.
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| domain | founded_year | HQ Location |
Autonomous mobile robots are supplied for warehouse operations.
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Frequently Asked Questions about Addverb
Addverb was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Addverb is headquartered in Noida, India. It is registered at Noida, Uttar Pradesh, India.
Sangeet Kumar is the current CEO of Addverb. They have also founded this company.
Addverb is a funded company, having raised a total of $66.89M across 6 funding rounds to date. The company's 1st funding round was a Series A of $9.79M, raised on Oct 02, 2017.
As of Oct 08, 2024, the latest employee count at Addverb is 768.
Annual revenue of Addverb is $54.2M as on Mar 31, 2023.
Addverb was founded in 2016 in Noida, India, focusing on the logistics and warehousing sector. Automated systems for material handling, storage, reverse logistics, picking, and sortation are provided through mobile robots, automated storage and retrieval systems, and warehouse management software. Fleet management tools are also offered for monitoring robotic operations. These solutions aim to enhance productivity and space utilization in warehouses across various industries.
Addverb's top competitors include GreyOrange, Third Wave Automation and Agility Robotics.
Addverb offers Autonomous Mobile Robot, Warehouse Management System, and Robotic Sorter.
Addverb has 7 investors. Key investors include Reliance Retail, Reliance Industries, GAIL, European Union, and Atul Kumar.
The valuation of Addverb is $285.07M as of Mar 2021.