Bengaluru:
Flo Mobility, a startup constructing vision-based autonomous driving applied sciences for a variety of autos, has raised $400,000 in funding from DevX Enterprise Fund, Enterprise Storage Angels and Blume Founders Fund, aside from different angels.Based in 2019 by Manesh Jain and Mohan Sivam, the mobility startup is trying to present autonomy-as-a-service and deploy its expertise on all the pieces from electrical scooters to agri-weeders and even garden mowers.
It says its inexpensive, compute-lite and interoperable stack may also be capable to be retrofitted to present autos and tools, permitting them to be operated autonomously or remotely.
“Autonomous tech is discovering its method round a number of functions and I imagine our platform centric strategy and subscription primarily based pricing will pave the way in which to construct a multi billion greenback enterprise,” mentioned Jain, who can also be the CEO of Flo Mobility.
He added that the startup is recruiting aggressively to develop its expertise, product and engineering groups to bolster its analysis on vision-based notion, low latency distant operations and constructing a Flo working system.
Jain had beforehand based edutech startup Mockbank which was acquired by Embibe which is now a part of the Reliance Jio Infocomm fold.
“We see a fantastic future in autonomous applied sciences and an estimated market alternative of US$ 40-50 bn. The staff has the proper area understanding, not solely to construct the tech however to additionally develop globally”, mentioned Vivek Kumar, CEO at Enterprise Storage.
Flo Mobility says it should use the capital to develop its community in India in addition to develop into Europe, USA, Center East and East Asian markets.
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Different high-profile firms concerned within the Sequence B spherical that raised $56.5 million included German auto provider Continental, European planemaker Airbus, Jaguar Land Rover, a part of India’s Tata Motors, in addition to U.S. agricultural equipment maker AGCO.
A buyer might use a cellular app to e-book an electrical automotive that may be delivered to the pick-up location by a driver steering the automobile remotely. The shopper might then drive it like a traditional automotive and the distant operator strikes to steering a unique automotive.
