As the conglomerate grows up automation across its industries, from e-commerce to new energy, billionaire Mukesh Ambani’s Reliance Industries Limited is buying an Indian robotics startup. Sangeet Kumar, the startup’s co-founder and chief executive officer, said in a phone interview on Tuesday that Reliance paid $132 million for a controlling share in Addverb Technologies, which utilises robots to make e-commerce warehouses and energy generation more efficient.
As rivalry from companies such as Amazon.com grows in India’s expanding e-commerce business, Mukesh Ambani, Asia’s richest man, is investing in technology. Addverb already utilises robotic conveyors, semi-automated systems, and pick-by-voice software in dozens of warehouses across Reliance’s empire, including online grocer JioMart, apparel retailer Ajio, and internet pharmacy Netmeds.
Addverb’s robots assist in the packing of Reliance’s oil and gas storage facilities, and the company created the refinery’s automation in Jamnagar, Gujarat. It is implementing solutions at Reliance’s massive new solar factory, also in Jamnagar, where the company aims to invest over $80 billion in green energy.
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