In January, Addverb Technologies received $ 132 million in funding funding from Reliance Retail, led by Ambani, after which Reliance will own 55.7 percent of the company.
A month after Rebans Industries-led Reliance Industries Ltd received $ 132 million, Gurugram-based robotics firm Addverb received $ 1 billion from the Mumbai conglomerate of 5G robots.
The order is for four to five years. According to several media reports, the robots will be deployed at the Reliance Industries (RIL) refinery in Jamnagar. They can work with Mumbai, which will allow RIL to experiment with 5G technology.
Without disclosing details of the development, Addverb said the inventory, consisting of a fleet of Dynamo 200 bots virtually connected via a 5G network, is monitored through Legion, its fleet management system hosted on a remote server located in Ahmedabad, i.e. used for internal logistics operations at the Jamnagar plant.
In addition, a fleet of Dynamo series boots with a capacity of 1 ton, virtually connected via a 5G network, has been used to automate the packing line where they deliver pallet bag refineries.
In January, Addverb Technologies received $ 132 million in funding growth from Reliance Retail under Ambani, after which Reliance will own 55.7 percent of the firm.
Funding is estimated at $ 270 million. The founders continue to own about 25 percent of the company.
In 2021, Addverb also told the media that it seeks to expand its robot production in India to increase production by about 10 times next fiscal year.
Addverb Bags for $ 1 billion from Reliance for 5G Robots
Source link Addverb Bags for $ 1 billion from Reliance for 5G Robots