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Asia’s Richest Man Buys Robotics Startup to Fuel Tech Ambitions

  • Ambani’s Reliance acquires majority stake in India’s Addverb
  • Conglomerate seeking to boost efficiency across its businesses

Billionaire Mukesh Ambani’s Reliance Industries Ltd. is buying an Indian robotics startup as the conglomerate scales up automation across its businesses, from e-commerce to new energy.

Reliance paid $132 million for a majority stake in Addverb Technologies Pvt, which uses robots to make e-commerce warehouses and energy production more efficient, Sangeet Kumar, the startup’s co-founder and chief executive officer, said in a phone interview on Tuesday.