India, December 30, 2024: JITO Incubation and Innovation Foundation (JIIF), one of the leading Angel Networks and Incubation Centers in India, has invested an undisclosed amount in a seed funding round for Flo Mobility Private Limited. The other marquee investors, Saurabh Runwal, Debjyoti Paul, Vikram Raichura. The company plans to utilize the fresh funds to expand into the overseas markets, hire talent and enhance their product portfolio for construction automation.
Flo Mobility was founded in 2020 by Manesh Jain and Pratik Patel, with a vision to become a leading construction robotics company. The founders explored various industries before finding its niche in construction automation. The company’s solutions are engineered to be rugged, compact and intelligent to adapt to changing conditions while also reducing emissions owing to electric drivetrain. Additionally, the company has a patented steering mechanism with indigenous manufacturing and a non-lidar based autonomy.
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.”
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.”
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. The company has previously raised a pre-seed round from investors like Blume ventures, Devx ventures and Indian Institute of Sciences (IIsc).