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From 400 sq ft to over ₹400 crore: U.P. start-up exporting robots to US, Europe & other developed nations
Currently, the turnover of the company is over ₹450 crore and it is exporting its ‘Made in Uttar Pradesh’ products to Australia, Singapore, Dubai, America, and Europe, said a company official.
LUCKNOW Robotics company, Addverb Technology, started its journey around the same time as Yogi Adityanath assumed the chief minister’s office in Uttar Pradesh in 2017. The Greater Noida-based start-up began operations in a 400 square feet room after receiving support from the startup policy launched by CM Yogi soon after coming to power.
Six years hence, Addverb Technology has scripted an unpreceedented success by grabbing considerable demand for its robots from not just within the country but also from across the border. Currently, the turnover of the company is over ₹450 crore and it is exporting its ‘Made in Uttar Pradesh’ products to Australia, Singapore, Dubai, America, and Europe, said a company official.
The robots made by the company are being used for transporting materials from one place to other. They are also being used in factories, warehouses, airports, and hospitals. Addverb has given direct employment to more than 2,000 skilled youths. In the near future, it is likely to provide direct employment to 3,000 more skilled youths, the company official said.
Sharing the company’s journey, chief marketing officer of Addverb Technology, Satish Kumar Shukla, said, “The journey of Addverb began when Yogi Adityanath became the chief minister of Uttar Pradesh. We started out from a small office in Delhi in 2017 by renting an office and a factory in Noida. We got a lot of help through the Startup Policy of the Uttar Pradesh government. In true sense, our growth is from U.P. only. The experience of ease of doing business in Uttar Pradesh cannot be found elsewhere.”
Speaking on the company’s success, a state government spokesperson said, the Uttar Pradesh government provided all support to Addverb -- from allotting land to setting up the industry. The “Boat-Valley” robotic plant started its production in a record time of 18 months. Addverb runs on the ‘Make in India’ mantra of Prime Minister and is making 100% indigenous robots. In view of the increasing demand, the company has started its second plant named “Boat-verse” on 15 acres, which was inaugurated by CM Yogi earlier, he said.
The CM intends to provide a platform for the innovative and creative youths to set successful business models. In view of the betterment of startup schemes and the need of the youth, he has also formed an ‘Innovation Fund’ in the state. Its benefits are being given to Uttar Pradesh-based startups. Addverb and companies like it are poised to make U.P. a $1 trillion economy, he added.
Chief minister Yogi Adityanath visited the premises of the Addverb Technology during his visit to Greater Noida on Sunday. The company also signed an MoU with Greater Noida Authority to lay the foundation of new investment proposal of ₹200 crore. The company serves best example of the ease of doing business, the CM said.
