Addverb’s robotics revolution: CEO Sangeet Kumar discusses growth, innovation, Intel partnership, future plans

Reliance-backed Addverb Technologies, a global robotics company specialising in warehouse automation and intralogistics operations, has made significant strides in the industry since its inception. Sangeet Kumar, CEO and co-founder of Addverb, recently spoke with Tech Today, providing insights into the company’s journey, technological innovations, and future aspirations.

Foundations and Early Growth

Founded in 2016, Addverb’s roots trace back to Asian Paints, where Sangeet Kumar and his co-founders initially honed their skills in building massive factories and warehouses. Their experience in the paint industry, where they repeatedly set records for efficiency and automation, laid the groundwork for Addverb’s innovative approach.

“We always believed we could achieve similar success within India rather than relying on foreign suppliers,” Kumar explained. This belief led to the creation of a company that bridges the gap between conventional and robotic automation, offering comprehensive solutions to complex logistics problems.

Partnership with Intel

A pivotal moment in Addverb’s journey was their collaboration with Intel, which began in 2018. Kumar noted that Intel’s extensive capabilities in India, particularly in electronics and software, were instrumental in advancing Addverb’s technology. 

“Robotics has evolved significantly since the 1970s, and today the innovation lies in electronics and software,” Kumar said. Addverb utilises Intel’s high-end processors, such as the Tiger Lake series, for various robotic functions, including stability and navigation.

Diverse Clientele and Market Reach

Initially, Addverb’s revenue primarily came from e-commerce and retail sectors, with major clients like Reliance, Amazon, Flipkart, and Lenskart. However, recognising the need for diversification, Addverb expanded into the FMCG sector, partnering with giants such as Unilever, PepsiCo, ITC, and Dabur. 

Furthermore, the company ventured into the chemicals and petrochemicals industries, securing contracts with IOCL and SRF. In recent years, new energy sectors, including batteries, electric vehicles, and solar energy, have contributed significantly to their revenue.

Kumar highlighted a significant milestone: “This year, for the first time, our overseas market will surpass our domestic market, contributing 55% of our revenue.” Their international clientele includes notable names like UPS, DHL, and Pratt & Whitney.

Talent Acquisition and Recruitment

Addverb’s growth is also attributed to its strategic recruitment from top engineering colleges. The company visits around 55 institutions annually, focusing on disciplines such as Mechatronics, Computer Science, Electrical, and Electronics. Kumar also emphasised the importance of passion projects, which often lead to direct interviews and hiring.

Future Outlook and Aspirations

Looking ahead, Addverb aims to expand its reach beyond warehouses and factories into healthcare, defence, and infrastructure sectors. They plan to introduce robots for ports and airports, further diversifying their product offerings.

“Our goal is to grow at a rate of 60-80% annually over the next five years and become a billion-dollar revenue company, with 70% of our revenue coming from overseas markets,” Kumar stated. An IPO is also on the horizon, contingent on achieving these growth targets.

Technological Integration with Intel

Intel’s contribution extends beyond processors. Addverb leverages Intel’s OpenVINO platform for camera feeds and data processing, ensuring efficient robotic operations. Despite Intel not holding a stake in Addverb, their investment during the COVID-19 pandemic significantly bolstered Addverb’s capacity.