Addverb was founded in 2016 by former Asian Paints Ltd. executives Sangeet Kumar, Prateek Jain, Satish Shukla and Bir Singh. Chairperson Jalaj Dani is a co-promoter at the paintmaker. It set up its first factory named Bot Valley in 2021 in Noida and launched Bot Verse in Greater Noida in June this year.
"Bot Valley's capacity was completely utilised, so we came up with the plan to put another manufacturing facility," Shukla told NDTV Profit, while on a shop-floor visit. "It is spread across 15 acres and this is the world's largest mobile robot manufacturing facility."
The plant has a capacity to manufacture 1 lakh robots per year. At present, around 14 types of robots are manufactured at the facility, all of which provide warehouse automation solutions for businesses. Apart from backers GAIL (India) Ltd. and RIL, its clients include Hindustan Unilever Ltd., Flipkart, Amazon.com Inc., PepsiCo Inc., The Coca-Cola Co. and Marico Ltd.
Around 70–80% of Addverb's revenue comes from India currently, but this revenue mix is expected to change in the next two years, Shukla said. "We expect almost 60% of our revenue to come from outside India and 40% of our revenue to come from India."
