The company has a manufacturing unit in Noida which was inaugurated in March with capacity to manufacture more than 50,000 robots of varied types in a year
Homegrown robotics and automation firm Addverb is looking to expand its robot manufacturing unit in India to boost its output by around 10 times in the next financial year, a senior company official told news agency PTI.
Addverb Technology CEO Sangeet Kumar said, “Addverb is looking to create the world’s largest robot manufacturing facility in India which will expand Addverb’s capabilities by almost 10 times by next financial year.”
The company has a manufacturing unit in Noida which was inaugurated in March with capacity to manufacture more than 50,000 robots of varied types in a year.
The company recently accounced its plans to expand its presence across the markets of Europe, Singapore, and Australia as it senses an increased demand for robotics and automation solutions in the global market.
Addverb will also set-up micro-factories in geographies where it sees a surge in demand. The company aims to be in the top five global robotics companies by 2025, Kumar said.
“Addverb plans to onboard 30 global employees across different offices at middle and top management positions and will also be looking for existing employees from India with relevant subject matter expertise to support global offices,” Kumar said.
According to the company, the global robotics market was valued at USD 27.73 billion in 2020 and is expected to reach USD 74.1 billion by 2026.
Established in June 2016, Addverb has clocked an approximate revenue of around 27 Million USD in FY 2020-21. They inaugurated their Noida manufacturing facility, “Bot-Valley” which also houses an R&D facility, in March 2021.
