Addverb Technologies Pvt., which provides automation for warehouses and factories, today announced that it is expanding into North and South America. The Noida, India-based company said it has established a U.S. leadership team with more than three decades of experience in robotics, manufacturing, and business development.
Addverb's announcement came a month after Reliance Retail Ventures Ltd. acquired a 54% stake in the company, investing $132 million (U.S.). Launched in 2016, Addverb claimed that it is a pioneer in human-robot collaboration for materials handling.
It offers “end-to-end” fixed and flexible automation including autonomous mobile robots (AMRs), carton shuttles, picking technologies, and automated storage and retrieval systems (ASRS). In addition, Addverb said its warehouse management and execution software, integration and support services, and industrial Internet of Things (IoT) systems can increase productivity, accuracy, and safety.
Addverb scales to meet global supply chain demand
The COVID-19 pandemic has led to an increase in home deliveries, labor shortages, and supply chain disruptions. As a result, the demand for automation is rising quickly, according to Addverb Technologies.
The global market for warehouse robotics could expand from $4.7 billion in 2021 to $9.1 billion by 2026, with a compound annual growth rate (CAGR) of 14%, predicted Markets and Markets. The research firm noted that a significant part of that demand is in the U.S.
By designing and making its own hardware and software, Addverb said it has been able to design and deliver innovative, efficient, and flexible systems for customers across different industries. Reliance Industries has reportedly placed orders worth up to $1 billion over four to five years for Dynamo 500 AMRs connected for its refinery in Jamnagar that will be operated over 5G from Mumbai.
The company's headquarters, manufacturing, and research and development facilities are in India, with subsidiaries in Australia, Asia, Europe, and the U.S.
Experienced execs to lead U.S. office
Mark Messina is the new CEO of Addverb Technologies USA Inc. in Dallas. He has two decades of experience in building, developing, and scaling global engineering, manufacturing, and operations, said the company.
Luke Lee joins Messina as marketing head of Americas at Addverb. He has 10 years of business development and marketing experience, with a recent focus on the robotics sector. The team has worked collectively across companies including Amazon, Mattel, Geek+, and HAI Robotics.
“The supply chain disruptions caused by the pandemic have accelerated the demand for automation globally, and we are looking forward to expanding U.S. and EMEA [Europe, the Middle East, and Africa] operations to deliver the next generation of Industry 4.0 automation to the customers,” said Sangeet Kumar, co-founder and CEO of Addverb Technologies.
“We are delighted to onboard Mark and Luke to drive our continuing efforts to strengthen and scale the business in the U.S.,” he added. “We hope that the duo will take Addverb Technologies to new highs, making it the mark for a robotic solution.”
Addverb said it already has more than 100 customers, including Reliance, Unilever, Flipkart, Coca-Cola, Pepsico, Johnson & Johnson, and PAR Pharmaceutical.