RIL picks 54% in robotics firm Addverb Technologies for Rs 983 crore

Strategic tie-up to help Reliance scale up automation across its businesses

Reliance Industries (RIL) has picked up a majority stake in robotics start-up Addverb Technologies for $132 million (approx. Rs 984 crore) as the energy-to-telecom conglomerate looks to automate its businesses.

Addverb has developed highly automated warehouses for RIL, Flipkart, HUL, Asian Paints, Coca-Cola, Pepsi, ITC, and Marico. With this investment, RIL will hold around 54 per