Noida-based robotics business will use the funds to build up another production factory and to grow globally.

Addverb Technologies, a robotics business located in Noida, is in extensive conversations with notable institutional investors to seek $80-120 million in a fresh round of investment.

Amazon, Flipkart, ITC, and Coca-Cola are some of the clients of this firm, which creates robots and automation systems for factories and warehouses.

"This round could assist us in expanding abroad. Southeast Asia, America, and Europe are all significant markets "Satish Shukla, co-founder, said Moneycontrol.

Addverb Technologies improves warehouse and industrial processes through the use of artificial intelligence, machine learning, automated storage and retrieval systems (ASRS), shuttles, IoT, and in-house software solutions.

The firm now has branches in Australia, Singapore, and the Netherlands, and it intends to establish an innovation centre and also invest in research and development departments.

It also has a manufacturing plant in Noida that can produce 50,000 various types of robots per year. Following the fund-raising, the business intends to establish another unit.

Pick to light, pick by voice, pallet shuttle, and yard management are some of the ideas presented by Addverb.

Whenever a product is ready to be transported, the picking zone light flashes. The pick by voice functionality permits a factory operator to validate what has been chosen and despatched by using voice commands.

A pallet shuttle is a battery-powered technology that transports merchandise across aisles, whereas yard management includes locating a commodity in a yard.

Former Asian Paints executives Shukla, Sangeet Kumar, Prateek Jain, Bir Singh, Amit Kumar, and Neeraj Sharma launched the firm in 2016.

The business last received $10 million from Asian Paints' Jalaj Ashwin Dani in 2018.

According to a Fortune Business Insights analysis, the worldwide logistics robots industry is estimated to reach $17.82 billion by 2028. Advances in auto manufacturing, together with the rapidly increasing growth of the e-commerce business in India and China, will fuel demand in the Asia-Pacific area.