Addverb builds a state-of-the-art robot manufacturing plant in Noida
Indian-based robot manufacturing company Addverb is in the process of building a state-of-the-art robot manufacturing plant in Noida. This new plant will be ten times bigger than their manufacturing facility called Bot-Valley, also located in Noida, India. When complete, this plant will have the capacity to produce up to 60,000 robots every year.
Addverb got a significant boost to its cash flow when it received a $132 million Series B round led by Reliance Industries. Earlier this year, the company had announced its plans to expand to several other markets, including the United States, Singapore, Europe, and Australia markets. Meeting the demands of all these markets requires beefing up their production capacity.
Addverb intends to use this new facility that will cover over 60,000 square meters as the stepping stone to disrupting the robotics manufacturing industry in the world. The company plans to hire around 3,000 new employees from various industries to work in this manufacturing plant.
Some of the different robot types that will be created from this plant include; Autonomous Mobile Robot (Dynamo), Sorting Robot (Zippy), Multi-Carton Picking Mobile Robot (Veloce), Carton Shuttle (Quadron), Pallet Shuttle (Cruiser), Stacker Crane, Mother-Child ASRS (Multi-Pro) system, and many more.
The factory will also be created in a way that makes it easier to scale up in case Addverb wants to add more equipment to further boost its production capacity. Addverb got the motivation to expand its facility from the growing demand for automation equipment in almost every industry.
The market size of the global warehouse robotics industry is estimated to go over $9.1 billion by 2026 from $4.7 billion in 2021. These numbers clearly show that demand for robots will only continue to grow in the next couple of years. Addverb is already supplying robots to Fortune 500 companies and other large enterprises in various industries, including FMCG, Grocery, Apparel, Petrochemicals, Pharma, and Automotive. Adding this plant will be a big win for them as they have now added more countries to their market.
