RIL said on Wednesday that Reliance Retail has bought a 55% share in robotics business Addverb Technologies.

Reliance Retail has invested USD 132 million (about Rs 983 crore) in Addverb Technologies, according to co-founder and CEO Sangeet Kumar.

Addverb Technologies Private Limited (Addverb) owned roughly 55% of Reliance Retail Ventures Limited (RRVL) as at July 20,21.

The company had already designed and delivered highly automated warehouses for Reliance's Jio-Mart food division, according to Kumar.

For innovative and inexpensive robotics, Addverb Technologies will benefit from Reliance Retail's strategic cooperation.

A subsidiary of RIL, Reliance Retail, made the investment in Addverb.