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India's coolest start-ups: Meet the founders of automated solutions provider Addverb Technologies

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India's coolest start-ups: Meet the founders of automated solutions provider Addverb Technologies

For the founders of Addverb, the timing proved right as GST was being implemented and the country was on the cusp of the impending industrial automation wave.
Arnab Dutta
Arnab Dutta
Print Edition: Jan 21, 2024
For the founders of Addverb, the timing proved right as GST was being implemented and the country was on the cusp of the impending industrial automation wave.
For the founders of Addverb, the timing proved right as GST was being implemented and the country was on the cusp of the impending industrial automation wave.

Addverb Technologies

(Mobile robotics & warehouse enterprise software)

Key People: Prateek Jain, Satish Shulka, Sangeet Kumar, Bir Singh.

Investors: Key investors Reliance Industries, Jalaj Dani, GAIL India

Funding: RIL: $132 million in 2022; Jalaj Dani: $11 million in 2018 and 2019; GAIL India: $85,000 in 2018

Satish Shukla, co-founder and CMO at Addverb Technologies, exemplifies how one can apply existing professional experience seamlessly onto a new venture. Originating from his tenure at Asian Paints in the early 2010s, Shukla, along with three former colleagues-turned-business-partners— Sangeet Kumar, CEO & Co-founder; Bir Singh, CBO & Co-founder and Prateek Jain, COO & Co-founder—leveraged their diverse expertise in the founding of the Noida-based automated solutions provider in 2016. The timing too proved right as GST was being implemented and the country was on the cusp of the impending industrial automation wave.

Their former boss at Asian Paints, Jalaj Dani, initially an investor at Addverb, later came on board as Chairman, complementing the team. Addverb’s current turnover stands at `450 crore, boasting over 750 employees and a global presence in Malaysia, Dubai, Germany, Netherlands, the US, and India. Shukla is now aiming for a Rs 1,000-crore revenue, targeting 60 per cent from international markets, a significant increase from the current 20 per cent. 

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