Flo Mobility, a vision-based autonomous technology company, has raised $400,000 in funding from DevX Venture Fund, Venture Garage Angels, Blume Founders Fund, and other prominent angel investors.
Manesh Jain and Mohan Kumar founded Flo Mobility in 2019 with the goal of creating a platform that can bring autonomous capabilities to vehicles across industries and form factors. The startup claims to be deploying its stack on a variety of vehicles, including electric scooters, delivery bots, agri-weeders, surveillance bots, golf carts, and lawnmowers.
Flo Mobility intends to use the funds raised to expand in India as well as to enter markets such as the United States, the Middle East, Europe, and East Asia. It will also be used to build the company’s technology, product, and engineering teams.
Jain said the firm will be further deepening its research on vision-based perception, low latency remote operations and proprietary Flo operating system. “Autonomous tech is finding its way around multiple applications and I believe our platform-centric approach and subscription-based pricing will pave the way to build a multi-billion-dollar business,” he noted.
“Smart solutions for the autonomy-as-a-service are the future and given Flo Mobility’s deep understanding and tech capabilities, I am confident that their offerings will find many takers. Going forward we strongly anticipate a massive impact on the sector, given the game-changing proposition that Flo Mobility’s offerings have” said Umesh Uttamchandani, Co-founder and chief growth officer, DevX.
DevX Venture Fund is a subsidiary of DevX Co-working & Accelerator, a Gujarat-based co-working and managed office space provider. It currently has over eight early-stage startups in sectors such as Fintech, SaaS, Healthcare, PropTech, AgriTech, and DeepTech. According to the company, it also assists startups with rapid scaling through its existing network, strategy support, and follow-on fundraising.
“What intrigued us was Flo Mobility’s focus on low-end autonomy. We believe there could be a leap in the adoption of autonomous technology – Flo Mobility’s tech stack can be used to convert a large range of vehicles to autonomous vehicles (like golf carts, e-scooters, Agri equipment, lawnmowers) at a significantly lower cost,” said Sarita Raichura of Blume
