🇮🇳 Roundup: Reliance to pour $40m into robotics firm, and more

Startups in India, including MetaMap, ARAPL RaaS, Glii, and Motozite collectively raised about US$71.8 million today in disclosed funding.

Here’s a snapshot of the fundraising:

Here are the other important tech news from India today:

Reliance to pour US$40.2 million into robotics firm

Reliance Retail Ventures, the retail unit of Indian conglomerate Reliance, is reportedly set to invest 300 crore rupees (around US$40.2 million) into Addverb Technologies, a warehouse robotics company.

The deal may boost Addverb’s valuation to 1,660 crore rupees (around US$222.2 million).

Previously, the robotics firm raised US$10 million from Jalaj Ashwin Dani, the co-promoter of Indian paint company Asian Paints. Its net sales surged 71% to 111.2 crore rupees (around US$14.9 million) between March 2019 and March 2020.

Follow the rest of our India coverage here.

Currency converted from Indian rupees to US dollar: US$1 = 74.69 rupees.