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. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Handles material movement in warehouses for improved efficiency.
Manages inventory and operations in automated warehouses.
Facilitates sorting and processing of items in logistics.
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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 |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| 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 |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Addverb
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Addverb
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Addverb
Frequently Asked Questions about Addverb
When was Addverb founded?
Addverb was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Addverb located?
Addverb is headquartered in Noida, India. It is registered at Noida, Uttar Pradesh, India.
Who is the current CEO of Addverb?
Sangeet Kumar is the current CEO of Addverb. They have also founded this company.
Is Addverb a funded 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.
How many employees does Addverb have?
As of Oct 08, 2024, the latest employee count at Addverb is 768.
What is the annual revenue of Addverb?
Annual revenue of Addverb is $54.2M as on Mar 31, 2023.
What does Addverb do?
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.
Who are the top competitors of Addverb?
Addverb's top competitors include GreyOrange, Third Wave Automation and Agility Robotics.
What products or services does Addverb offer?
Addverb offers Autonomous Mobile Robot, Warehouse Management System, and Robotic Sorter.
Who are Addverb's investors?
Addverb has 7 investors. Key investors include Reliance Retail, Reliance Industries, GAIL, European Union, and Atul Kumar.
What is Addverb's valuation?
The valuation of Addverb is $285.07M as of Mar 2021.
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