Addverb Technologies, the robotics subsidiary of India’s Reliance Industries, is set to unveil a humanoid robot prototype by the end of this year. Priced below $10,000, the robot is expected to target the service sector as the company makes a strategic push into the market.
According to a report from the Kotra Ahmedabad Trade Office on the 5th, Addverb plans to introduce its humanoid prototype within the year. CEO Sangeet Kumar stated, “We won’t limit ourselves to making humanoids identical to humans just to maximize efficiency,” signaling a focus on practicality and performance in the product’s design.
The industry is watching whether Addverb can deliver an affordable humanoid robot through cost-cutting measures. As a latecomer to the humanoid market, the company is likely to emphasize competitive pricing. Analysts predict Addverb will lead the charge in bringing humanoids to households and commercial spaces with its budget-friendly offering under $10,000.
The Indian home-use market, in particular, holds significant growth potential. Robots could replace domestic helpers, whose monthly wages average around $178, or roughly $2,000 annually. Purchasing a low-cost humanoid for one-time use over four to five years could prove cheaper than hiring a helper.
Addverb was founded in 2016 in Noida, India, initially developing warehouse transport and sorting robots before expanding its portfolio. Last year, it launched a robotic dog and unveiled its second-generation model, “TRAKR 2.0,” at February’s LogiMAT INDIA robotics expo in Mumbai.
The company has seen rapid revenue growth amid increased robotics investments, surging from $130,000 in 2017 to $40 million in 2023. It was acquired by Reliance, owned by India’s wealthiest family, the Ambanis, in 2021.
