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Indian-based Reliance Retail enters into a joint venture with Addverb, a bot manufacturer

ConsumerGeniuses

ConsumerGeniuses

An Indian-based retailer company, Reliance Retail, has become a shareholder of 54% in an Indian robotics manufacturing firm, Addverb. Both the parties signed the deal with an amount of $132 million or Rs 983 crores. This joint venture will allow Reliance Retail to leverage its 5G and battery tech via advanced energy solutions provided by Addverb. Plus, Reliance Retail would be able to advance in material sciences like carbon fibre, helping the firm to enable fast and affordable robot delivery.

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