$100 Million Push: Addverb Aims to Conquer Robotics Market by Developing Humanoid Robots

$100 Million Push: Addverb Aims to Conquer Robotics Market by Developing Humanoid Robots​

Indian robotics firm Addverb Technologies Ltd. is aggressively seeking over $100 million in funding to cement its position as a leading domestic producer of advanced robots. The startup, which currently operates across global markets including the US, the Netherlands, and Australia, is channeling this new capital into high-growth areas like humanoid and quadruped robotics.

Addverb specializes in automating logistics processes, handling tasks such as sorting and material movement for corporations in the warehouse and electronics sectors. CEO Sangeet Kumar stated that the investment will drive critical innovation, positioning the company for a potential stock market debut within the next few years.

Strategic Focus on Humanoid Robotics and AI Development​

The pursuit of groundbreaking technology is central to Addverb's expansion strategy. The firm plans to utilize fresh capital primarily to develop sophisticated humanoid robots, as well as artificial intelligence systems necessary for training these advanced machines.

The company views the rapidly emerging market for humanoids as a major opportunity. Global leaders in this space include Unitree Robotics and Tesla Inc.'s Optimus. Despite facing intense competition from established giants in China, Japan, and the US, Kumar is confident that Indian enterprises can develop competitive strengths.

Building Self-Reliance Through Proprietary Technology​

A key element of Addverb’s competitiveness strategy involves developing proprietary technology to reduce reliance on imported components. This move seeks to mitigate dependencies on overseas suppliers.

In a significant technological milestone planned soon, Addverb aims to launch its lidar sensors after more than two years of concentrated development. This initiative is designed to bolster the company's autonomy and domestic sourcing capabilities in specialized hardware.

Growth Ambitions: Targeting Global Top Tiers​

Addverb has articulated ambitious growth metrics for the near future. The management aims to rank within the top 10 companies globally within five years, with a target of the top 5 in ten years.

The company estimates that it currently stands just outside the global top 30 in robotics market share by revenue. Backed initially by Reliance Industries Ltd., Addverb continues to expand its reach beyond domestic markets.

Financial Standing and Market Performance Indicators​

Addverb has secured prior funding, having raised $132 million from Reliance. The company's customer base includes major Indian corporations like Lenskart Solutions Ltd., Hindustan Unilever Ltd., and Reliance.

Globally, Addverb currently derives half of its revenue from outside India. Despite reporting losses during the past two years of international expansion, CEO Kumar projects a return to profitability by fiscal year ending March 2027 on an adjusted basis.

Revenue Targets and IPO Roadmap​

The company has set an ambitious revenue target of Rs 1,300 crore for the current fiscal year, supported by an order book valued at approximately $200 million.

While securing major growth funding now, Addverb is not rushing into a public offering. Kumar stated that the firm feels too small for an IPO at this juncture. The plan is to explore listing only after achieving significant revenue milestones of Rs 4,000 crore or Rs 5,000 crore. This sales milestone could be reached within two years if current growth momentum is maintained.