Bengaluru:Flo Mobility, a startup building vision-based autonomous driving technologies for a range of vehicles, has raised $400,000 in funding from DevX Venture Fund, Venture Garage Angels and Blume Founders Fund, apart from other angels.Founded in 2019 by Manesh Jain and Mohan Sivam, the mobility startup is looking to provide autonomy-as-a-service and deploy its technology on everything from electric scooters to agri-weeders and even lawn mowers.
It says its affordable, compute-lite and interoperable stack will also be able to be retrofitted to existing vehicles and equipment, allowing them to be operated autonomously or remotely.
“Autonomous tech is finding its way around multiple applications and I believe our platform centric approach and subscription based pricing will pave the way to build a multi billion dollar business,” said Jain, who is also the CEO of Flo Mobility.He added that the startup is recruiting aggressively to grow its technology, product and engineering teams to bolster its research on vision-based perception, low latency remote operations and building a Flo operating system.
Jain had previously founded edutech startup Mockbank which was acquired by Embibe which is now part of the Reliance Jio Infocomm fold.
“We see a great future in autonomous technologies and an estimated market opportunity of US$ 40-50 bn. The team has the right domain understanding, not only to build the tech but to also expand globally”, said Vivek Kumar, CEO at Venture Garage.
Flo Mobility says it will use the capital to expand its network in India as well as expand into Europe, USA, Middle East and East Asian markets.