In January, Addverb Technologies received a funding boost of $132 million from Ambani-led Reliance Retail, following which, Reliance will own a 55.7 percent stake in the firm
A month after receiving a $132 million funding boost from Ambani-led Reliance Industries Ltd, Gurugram-based robotics firm Addverb has now bagged a USD 1 billion orders from the Mumbai-based conglomerate for robots with 5G technology.
The order is spread over four-to-five years. As per several media reports, the robots will be deployed in Reliance Industries’ (RIL’s) Jamnagar refinery. They can be operated out of Mumbai, which will allow RIL to experiment with 5G tech.
Without revealing much details about the development, Addverb said that a tugging inventory consisting of a fleet of Dynamo 200 bots, virtually connected through 5G network, are being controlled through Legion, its fleet management system hosted over the remote server located in Ahmedabad, that is used for intra-logistics operations inside the plant at Jamnagar.
In addition, a fleet of Dynamo series of bots with one ton payload capacity, virtually connected over the 5G network, have been used for bagging line automation, where they fetch the pallets of refinery bags.
In January, Addverb Technologies received a funding boost of $132 million from Ambani-led Reliance Retail, following which, Reliance will own a 55.7 percent stake in the firm.
The funding values the firm at $270 million. The founders continue to hold about 25 percent stake in the firm.
In 2021, Addverb also told media officials that it is looking to expand its robot manufacturing unit in India to boost its output by around 10 times in the next financial year.
