Addverb will invest Rs 500 crore in its robot manufacturing facility in Greater Noida in phases, to support the scaling up of operations and diversifying its market base.

The proposed unit spans over six lakh sq. ft., of which the facility occupies about 2.5 lakh sq. ft. The company at present caters to industrial customers which include warehouses and factories.

The Reliance Retail-owned robotics firm has already invested Rs 200 crore in the manufacturing unit, which was inaugurated by Uttar Pradesh Chief Minister Yogi Adityanath last week.

Addverb now plans to diversify the business of the healthcare segment in hospitals, and will accordingly launch products which have been under development for the last one-and-half years. These are expected to be launched by the end of this year.

For this year, the company is planning to achieve Rs 1,000 crore, and aims to double its revenue to reach USD one billion in the next five years.