News > Reliance Retail to invest Rs 300 crore in warehouse robotics startup Addverb Technologies

Reliance Retail to invest Rs 300 crore in warehouse robotics startup Addverb Technologies

Reliance Retail, a subsidiary of Reliance Industries Ltd., is expected to invest around Rs 300 crore (~$40.2 million) to pick up a minority stake in Noida-based warehouse-focused robotics startup Addverb Technologies.

Reliance Industries, however, has yet to comment on the matter. Addverb Technologies, founded by former Asian Paints executives Sangeet Kumar, Satish Shukla, Bir Singh and Amit Kumar in 2016.