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Reliance Retail acquires 54% stake in robotics startup Addverb for $132 Mn

Shortpedia

Content Team
Image Credit: RLI

Mukesh Ambani-led Reliance Retail is on a shopping spree. After acquiring a 25.8% stake in hyperlocal startup Dunzo with a $200 Mn investment last week (9 January), it has now picked up 54% stake in Indian robotics startup Addverb Technologies for $132 Mn (about INR 983 Cr). Addverb Technologies will work independently post the acquisition.