Addverb Technologies, an indigenous robotics firm backed by Reliance Industries Ltd (RIL), on April 12 announced it would be building the "world's largest manufacturing facility" in Noida.
The robotics plant, that would spread across 60,000 square metres, will be 10 times bigger than its current manufacturing facility called Bot-Valley in Noida, the company said in a statement.
"This new plant comes on the heels of the recent USD 132 million funding led by Reliance in Series B round, as well as the global expansion of the company in USA, Singapore, Europe, and Australia markets," it added.
The $132 million investment was announced by RIL on January 18, which makes it the largest shareholder in Addverb with a 54 percent stake.
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The new production plant, according to Addverb CEO Sangeet Kumar, will make the company a "giant robot manufacturer on global fronts, by delivering cutting edge software and robust hardware systems, along with a mix of innovative fixed and flexible automation solutions".
The move is also expected to generate opportunities for high-skilled workers, with direct and indirect employment for around 3,000 persons, Addverb said.
The capacity expansion move has been driven by an increase in demand for automation across the globe in multiple sectors, the statement added.
Addverb, whose robotic productions are primarily aimed at providing intra-logistics automation solutions, is eyeing an expansion of its market in the post-COVID-19 period.
"According to a recent study the global warehouse robotics market size is expected to grow from $4.7 billion in 2021 to $9.1 billion by 2026," it said.
According to Addverb, it has provided warehouse automation solutions to major companies operating in the Indian market, including Unilever, Reliance, Flipkart, Amazon, PepsiCo, Coca-Cola, Marico, Dabur, ITC and Patanjali, among others.
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