Reliance Retail-backed Addverb Technologies, a manufacturer of autonomous robots for intralogistics operations, is aiming to become a billion-dollar company in revenues in the next five years and is opening a new manufacturing facility to expand capacity to achieve the same.
Mr. Sangeet Kumar, Co-founder and CEO, in an enticing conversation with ET Infra, said, “Currently 80% of our revenue comes from India and 20% from overseas markets, which will change. In the next five years, we are planning to be a billion-dollar company in revenues and out of that 50% will come from overseas markets and 50% will come from India.”
“We did around Rs 350 crores (revenues) last year, this year we are planning to do Rs 1,000 crore plus. We have always been a profitable company,” he added.