Flo Mobility, a vision-based autonomous technology company has raised an undisclosed amount in a seed funding round led by JITO Incubation and Innovation Foundation (JIIF), an angel network and incubation centers in India.
The other marquee investors, are Saurabh Runwal, Debjyoti Paul, and Vikram Raichura.
The funds raised will be used to expand into the overseas markets, hire talent and enhance their product portfolio for construction automation.
In 2021, Flo Mobility raised $400,000 in a pre-seed round from DevX Venture Fund, Venture Garage Angels, Blume Founders Fund, Indian Institute of Sciences (IIsc) and other marquee angels.
Manesh Jain, Founder and CEO, Flo mobility said, “Robotics can play a pivotal role in defining the future of construction. It not only enhances productivity, but also improves worker safety, reduces accidents and ensures consistency in quality of tasks. With rapid progress in edge compute technology, prices of sensors coming down and AI models attaining better accuracy every passing day, timing is apt for take-off of robotics technology. I truly believe that in the next few years, we will see robots all around us.”
Jeenendra Bhandari, Chairman, JITO Incubation and Innovation Foundation (JIIF) said, “AI and Automation would play an essential role to drive growth in the foreseeable future, and we believe that our investment in Flo Mobility will play a role in helping the company to unlock their potential to stay as pioneer in the space of innovating automation, and we are committed to stay on the journey which will contribute to harness the future growth potential of automation and AI.”
Founded in 2020 by Manesh Jain and Pratik Patel, Flo Mobility is a construction robotics company that integrates robotics and computer vision technologies.
It offers diverse robotic solutions (Material handling, surveillance, wall finishing, etc) that help clients in enhancing workforce productivity, reducing accidents and minimizing material breakage.
The solutions not only automate tasks but also bring visibility into projects enabled by data collection sensors mounted on machines. The backend dashboard provides real-time insights into the progress and utilization of the machine.
The company’s solutions are engineered to be rugged, compact, and intelligent, allowing it to adapt to changing conditions while also reducing emissions owing to the electric drivetrain.
The company has deployed their products for clients like L&T, CapacitE Infraprojects, PSP Projects, Sobha, Total Environment, K2K Infra, etc achieving 50% cost saving and 45% time saving.
Flo Mobility is focused on transforming construction sites with their innovative robotic solutions. India’s leading construction companies – L&T, Sobha, PSP Projects, CapacitE Infraprojects, Total Environment etc. are a part of their client portfolio.
Recently, JIIF announced the closing of its 100th investment deal with the investment in Elixia Robotics, bringing JIIF’s total committed investments to over ₹225 crores across 100 startups.
