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Mukesh Ambani Invest $132 Million In Addverb Technologies

Reliance Invest In Addverb Technologies

A huge war between Reliance and Amazon is going and both companies want to acquire the Indian e-commerce market. The biggest news here is that Reliance founder Mukesh Ambani has taken a huge step by investing $132 Million in the company of a robot named Addverb Technologies to improve the e-commerce warehouse and energy production

Mukesh Ambani now owns the majority of the stakes in the company as confirmed by Sangeet Kumar co-founder of the company. This is a huge step taken by Mukesh Ambani to take hold of the Indian e-commerce market through JioMart.

During a telephonic interview, Sangeet Kumar said, “Reliance has huge plans to implement automation across digital warehouses.They have plans to expand warehousing to hundreds of locations in the next two years and when you have that scale, only robotic systems can be effective.”

This is not the first time that Addverb Technologies is working with the Reliance industry for the first time. In fact, they are already working with Reliance’s oil and gas storage facilities where they have set up robotics to help their packaging. This ensures that reliance will take it all to get over the giants like Amazon in India. Well, this is also a big threat to other e-commerce companies like Flipkart and Myntra to get into such automation.

The biggest goal that Mr. Kumar said is that they are planning to build 5G robotics and battery systems and harness carbon fiber to with Reliance for better and Green India. So, what do you think about this collaboration? Do let us know in the comment below.

Posted in Business News

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