In a major step towards upping its investments in technology, Mukesh Ambani¡¯s Reliance Industries had acquired a majority stake in Indian robotics startup Addverb Technologies last month.
For this, Reliance had paid a whopping $132 million, equaling to approximately ?983 crore in January 2022.
And now, the newly-acquired Addverb Technologies has received orders worth around $1 billion, spread over 4-5 years, from Reliance Industries, for robots with 5G technology.
The startup builds robotics and automation solutions for factories and warehouses, and the ordered robots are reportedly said to be deployed in Reliance Industries' Jamnagar refinery, as per what a TOI report quoting sources stated. The robots can be operated out of Mumbai, which will hence allow RIL to experiment with 5G tech.
Addverb stated that a tagging inventory consisting of a fleet of Dynamo 200 bots is being used for intra-logistics operations inside the Jamnagar plant.
The robots are virtually connected through a 5G network and are controlled through Legion, which is its fleet management system hosted over the remote server located in Ahmedabad.
Also, a fleet of Dynamo series of robots with features like one ton payload capacity, virtually connected over the 5G network, have been used for bagging line automation, where they fetch the pallets of refinery bags.
Also Read:?Anand Mahindra Lauds Startup Tvasta That Built India's First 3D Printed House, Asks To Join In
For the uninitiated, the robotics startup Addverb already works in dozens of warehouses across Reliance's empire, including online grocery JioMart, fashion retailer Ajio and internet pharmacy Netmeds, wherein it deploys robotic conveyors, semi-automated systems as well as pick-by-voice software.
Addverb's robots help pack Reliance's oil and gas storage facilities, and it has designed automation for the conglomerate's refinery in Gujarat's Jamnagar.?
The startup is even implementing solutions in Reliance's giant new solar factories, also in Jamnagar, where the company plans to make green energy investments of over a whopping $80 billion.
Also Read:?10 Bollywood Celebrities And Their Startup Investments
For more such latest financial news and interesting finance content,?keep reading Worth.?Click here