Fueled by a $132M Series B Raise, Indian Automation Startup Expands to North America with Frisco Offices Dallas Innovates – dallasinnovates.com

Addverb's Multi-Pro is a shuttle-based ASRS system designed for multi-deep pallet storing. [Photo: Addverb]

One of Indias largest robotics firms is setting up shop in North Texas.

Marking its expansion into the North and South American markets, warehouse and factory automation startup Addverb Technologies announced plans to set up corporate offices in Texas, which its website lists as located in Friscos Hall Park development at 3010 Gaylord Pkwy.

The supply chain disruptions caused by the pandemic have accelerated the demand for automation globally and we are looking forward to expandingto deliver the next generation of Industry 4.0 automation to the customers, said Sangeet Kumar, co-founder and CEO of Addverb Technologies, in a statement.

Zippy, Addverbs ultra-fast sorting robot. [Photo: Addverb]

Addverb did not respond to questions about what operations or how many employees will be located at the Frisco offices before publication. However, it said that it has tapped Mark Messina, former co-founder and CTO of autonomous drone delivery company DroneTerminus, as the CEO of its U.S. subsidiary. Addverb also named Luke Lee as its marketing head of Americas. He previously held a similar role at warehouse automation solutions company HAI Robotics.

In addition to its offices in Frisco, Addverb is also planning an experience center in San Diego. The companys expansion to North and South America follows entrances into Australia, Singapore, and Europe last year.

The companys expansion is being fueled by a $132 million Series B funding round led by Retail Reliance Ventures that it landed earlier this year, giving the subsidiary of Indias Reliance Industries Limited a 54% stake in Addverb. According to The Robot Report, that brought the companys total raise to around $143 million, giving it a valuation of about $265 million.

Launched in 2016, Addverb provides autonomous robots that handle tasks like carton shuttles and picking technology and are integrated with management software to create an end-to-end automation and logistics solution for warehouse and factory operations. The company counts names like Reliance, Coca-Cola, and Johnson & Johnson among its list of more than 100 customers.

Addverbs headquarters are located in Noida, India, where the company also operates R&D facilities, as well as a manufacturing facility that it says is able to produce around 10,000 robots per year. Per The Robot Report, about 80% of Addverbs revenue currently comes from the Indian market.

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Fueled by a $132M Series B Raise, Indian Automation Startup Expands to North America with Frisco Offices Dallas Innovates - dallasinnovates.com