Noida-headquartered robotics and automation solutions provider AddverbTechnologies has raised $132 million from Reliance Industries Limited (RIL) in a strategic round of funding. Post the investment, RIL will be the single majority shareholder in the company.
The company, which had previously raised $11 million across Series A and Pre-Series A rounds, will see early investor and co-promoter of Asian Paints, Jalaj Dani, continue to hold his stake in the company. GAIL Limited, which participated in the seed round of the company as part of Startup India initiative, will get a timeframe-based exit for its investment in Addverb.