India’s richest man, Mukesh Ambani, has bought the majority stake – 54 percent – in a robotics company called Addverb Technologies through his Reliance Industries conglomerate.
Addverb Technologies is a warehouse automation company, mainly in the intralogistics space, providing autonomous mobile robots and other systems, and was already working with Reliance Industries.
The purchase of the shares took place during the startup’s latest funding round. [Read more…] about India’s richest man spends $132 million buying majority stake in robotics company