Addverb（Addverb Technologies）

Reliance Retail Ventures acquired a 54% majority stake for USD 132M. The transaction was a combination of primary + secondary (both new share subscription and old share transfer). CEO Sangeet Kumar confirmed the post-money valuation of USD 270M at the time. The six co-founders' combined holdings dropped to approx. 24%–25%; management retained operational control, and the company continues to operate independently. Reliance was already a customer (co-building automated warehouses for Jio-Mart fresh produce business), with cooperation extending to 5G batteries and carbon fiber materials. After this transaction, cumulative funding reached approx. USD 143M. | Source: The Hindu BusinessLine (Jan 2022) · FiscalZenith · Privat...