Addverb Technologies, which provides robotics and automation tech to customers consisting of Reliance, Flipkart and Amazon stated it is in addition expanding its presence across the markets of Europe, Singapore, and Australia. This strategic initiative stems from expanded call for for robotics and automation solutions inside the worldwide market.
The global robotics market became worth $27.Seventy three billion in 2020 and is anticipated to reach $74.1 billion by way of 2026, registering a CAGR of 17.Forty five according to cent, for the duration of the length of 2021-2026.
"We are taking Addverb Technologies global within the international robotics and automation marketplace,” stated Sangeet Kumar, CEO and co-founder of Addverb Technologies. “With this growth, we goal to offer an end-to-cease product portfolio which will streamline warehousing and manufacturing unit operations and will assist customers create warehouses with better levels of performance, accuracy and versatility”
Established in June 2016, Addverb said it has witnessed a fast boom and clocked an approximate sales of round $ 27 million in FY 2020-21. It unveiled a manufacturing facility, ‘Bot-Valley’ which additionally houses a properly-prepared R&D facility at Noida in March 2021. The employer said it has one of the widest robot and automation product portfolio. It has more than 100 customers which include the likes of Reliance, Flipkart, Amazon, Hindustan Unilever, Coca-Cola, PepsiCo, Future Supply Chain and Marico.
Retailers and patron-dealing with corporations globally are searching at automation. The complexity of their operations are making the conventional solutions to be had inside the market out of date. Addverb is seeking to fill this area with its customizable hardware and modular software. It has deployed a host of modern warehouse robotic answers with anchor clients throughout distinctive sectors like FMCG, retail, e-commerce, fashion and way of life. The company stated its merchandise have helped companies to scale up fast and run operations in a easy way mainly at the time of Covid.
The enterprise stated it has created a software program platform, ‘Mobinity, a warehouse control device that helps in integrating different automation products in a unmarried warehouse. With its production facility, the company stated it has the capability to supply greater than 50,000 robots of various types in a yr. It has additionally deployed a micro-fulfilment centre for a leading e-trade company based out of India. The firm said it ambitions to establish an innovation lab in the US and Europe with the intention to create a global team of workers primarily based out of different components of the arena.
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