AMR startup valued at nearly US$250 million - in India

Recently, the blog still asked the question whether after the Chinese robotics startups would come the Indian ones(link). Reference was made to the large amounts of money flowing into Indian startups. Now India's richest man has taken a stake in Addverb Technologies. Mukesh Ambani, as he is known, is said to be the tenth richest person on earth, with a fortune of over US$80 billion. He paid $132 million for a 54% stake. The startup's vision is to create "breakthrough human-robot collaboration" - apparently in the mobile sector. Here, the company is primarily active in the warehouse. It is probably not "real" AMR.

The range is described as, "An end-to-end product portfolio based on AI, machine learning, deep learning, computer vision and IoT that streamlines operations. The electronic manufacturing capability, equipped with our in-house developed software, adds tremendous flexibility to the product and creates warehouses that enjoy a higher level of accuracy and efficiency."

Although the company is only represented in Europe in the Netherlands, the website is already available in German. Apparently, the German market is to be approached soon or a distribution partner is being sought. India is known as an extremely favorable production location with qualified personnel. The mobile robots should be correspondingly inexpensive.

By the way, I had a special experience with India years ago: In Munich, still on the Mittlerer Ring, I entered the hall of a large IT company. There were only Indians sitting at the screens. In the meantime, our children also have Indian classmates. In other words, the hurdles to market entry are getting lower and lower.

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The author of this blog is significantly involved in the AI/robotics project Opdra. He advises robotics companies and investors on market analysis and funding/subsidies. More about him can be found here.