HCLTech Launches Autonomous Finance Platform for use with Google Cloud’s Gemini Enterprise

HCLTech, a leading global technology company, today announced the launch of an autonomous finance platform that transforms core finance and accounting operations using Gemini Enterprise.

While enterprises make significant investments in core ERP and SaaS platforms, finance and accounting operations continue to rely heavily on manual intervention. The new platform is designed to address this gap by enabling finance processes to operate with a high degree of autonomy and intelligence, while integrating seamlessly with existing technology systems.

Unlike traditional automation and isolated AI use cases, the platform orchestrates end-to-end finance processes autonomously — executing, learning and continuously optimizing workflows across Invoice-to-Pay, Order-to-Cash, Financial Planning & Analysis (FP&A) and Record-to-Report. This approach enables faster execution, improved control and measurable business outcomes for enterprise finance organizations.

This enterprise-grade platform brings together Google’s Gemini Enterprise AI stack and secure cloud infrastructure with HCLTech’s deep finance domain expertise, engineering capabilities and operations experience. The Autonomous Finance platform leverages HCLTech’s Industry AI Solutions, which brings domain-trained AI solutions tailored to specific industry and enterprise functions. The new platform is scalable, secure and designed for real-world finance operations, while accelerating time-to-value for global enterprises.

“ERP and SaaS platforms digitized finance, but they did not fundamentally change how work gets done,” said Upjit Ghuman, Executive Vice President and Global Head of BPO, HCLTech. “Our platform introduces an Agentic AI fabric that operates on top of customers’ existing IT systems, enabling finance processes to run largely autonomously. By significantly reducing manual intervention, CFOs and finance teams can focus on judgment-driven, strategic and value-creating work.”

“HCLTech’s AI strategy is about taking AI from experimentation to enterprise scale,” said Vijay Guntur, Chief Technology Officer and Head of Ecosystems at HCLTech. “This collaboration with Agent Platform is a strong step forward in that direction — bringing together advanced AI capabilities and real-world enterprise depth to create solutions that can be deployed with confidence across core business functions.”

“Gemini Enterprise and Google’s AI stack are built to handle the complex orchestration required by the world’s largest enterprises,” said Kevin Ichhpurani, President, Global Partner Ecosystem at Google Cloud. “Built on this foundation, HCLTech’s finance platform combines deep domain understanding with proven engineering excellence to transform core business functions into autonomous, agent-led operations."

HCLTech is a global technology company, home to more than 227,000 people across 60 countries, delivering industry-leading capabilities centered around AI, digital, engineering, cloud and software, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Semiconductor, Telecom and Media, Retail and CPG, Mobility and Public Services. Consolidated revenues as of 12 months ending March 2026 totaled $14.7 billion. To learn how we can supercharge progress for you, visit hcltech.com.

Hyundai's AI-based Autonomous IONIQ 5 Robotaxi Successfully Passes Driver’s License Test

The Hyundai IONIQ 5 robotaxi has recently made headlines by successfully completing a process akin to a U.S. driver's license test. This achievement showcases the vehicle's advanced autonomous driving capabilities and marks a significant step towards the future of mobility.

The Hyundai IONIQ 5 robotaxi is an innovative autonomous vehicle designed to provide safe and convenient public ride-hailing services. It's a Level 4 autonomous vehicle, which means it can operate safely without a driver under certain conditions. This robotaxi is a collaboration between Hyundai Motor Company's automotive R&D and Motional's driverless technology, combining electrification and autonomy.

The robotaxi met all the necessary evaluation criteria to earn its license, demonstrating 'uncompromised safety' in the process. This event not only highlights Hyundai's technological prowess but also its commitment to creating accessible and inclusive mobility solutions.

In the driving test, conducted by the highly experienced professional examiner, the IONIQ 5 robotaxi excelled, impressing with its speed control, lane changes and maneuvering, its ability to accurately stop at a stop sign, perform left turns, and its reaction time to developing hazards.

Captured in the video, the IONIQ 5 robotaxi effortlessly navigated the Las Vegas Strip, as well as the city’s suburban areas.

The IONIQ 5 robotaxi is the embodiment of transformative technologies in mobility coming together in one vehicle. It signifies the extensive collaboration between Hyundai Motor Group and autonomous driving technology developer Motional, spanning years of development and rigorous testing of advanced automotive platforms and self-driving technology. The IONIQ 5 robotaxi achieves consistent driving performance in various driving environments thanks to its suite of advanced sensors, combining LiDAR, radar and cameras.

The video features the IONIQ 5 robotaxi completing a series of public-level driving tests, including road driving in Las Vegas, U.S., demonstrating outstanding performance. This achievement underscores the IONIQ 5 robotaxi’s reliability as well as the inclusivity of its autonomous vehicle technology, highlighting its potential to safely provide freedom of mobility to all.

The film ‘Hyundai gets its driver's license’ can be seen on Hyundai Motor Company’s official YouTube channel.

"As a company that pursues freedom of mobility, we at Hyundai aim to exhibit the safety and trustworthiness of the IONIQ 5 robotaxi through this campaign,” said Sungwon Jee, Senior Vice President and Global Chief Marketing Officer at Hyundai Motor Company. “We will continue our efforts to communicate our AI-based autonomous driving technology, which is set to provide positive changes to our customers’ everyday lives.”

The Hyundai IONIQ 5 robotaxi stands out in the autonomous vehicle landscape for several reasons:

Level of Autonomy: It is an SAE Level 4 autonomous vehicle, meaning it can operate without a driver under certain conditions¹.

Electrification: The IONIQ 5 robotaxi is fully electric, aligning with the push towards sustainable transportation¹.

Safety and Accessibility: It emphasizes safety and aims to provide more accessible transportation options, potentially improving mobility for a broader range of users. 

Design: The design is based on Hyundai's Electric Global Modular Platform (E-GMP), offering a spacious and comfortable interior for passengers. 

These features position the IONIQ 5 robotaxi as a strong competitor in the autonomous vehicle market, combining advanced driverless technology with eco-friendly aspects to enhance the overall transportation experience.

Hyundai, Kia Partner KAIST To Develop LiDAR Sensors for Advanced Autonomous Vehicles

Hyundai Motor, Kia and KAIST Form Joint Research Laboratory to Develop Next–Generation Autonomous Driving Sensors

• Hyundai Motor Group–KAIST On–Chip LiDAR Joint Research Lab at the KAIST HQ in Daejeon to develop LiDAR sensors for advanced autonomous vehicles
• Lab aims to develop essential high–performance, compact on–chip sensors and new signal detection technology
• On–chip sensors to reduce the size of LiDAR system compared to conventional methods and secure price competitiveness through mass production using semiconductor fabrication processes

Hyundai Motor Company and Kia Corporation have announced that they are partnering with KAIST (Korea Advanced Institute of Science and Technology), to develop next–generation autonomous driving sensors.

Established in 1971, by the Korean government, KAIST is Korea's first public, research-oriented science and engineering institution. It may be recalled that, in 2009, KAIST researchers unveiled an electric transport system where the vehicles get their power needs from cables underneath the surface of the road via non-contact magnetic charging.

It may be recalled that in 2018, researchers from 30 countries boycotted KAIST due to an allegation that KAIST was starting an AI weapons research project together with the Korean arms manufacturer Hanwa. The allegations were of developing lethal autonomous weapons. Later the institute denied the existence of such project.

Years later, now Hyundai Motor, Kia and KAIST are joining together to establish the ‘Hyundai Motor Group–KAIST On–Chip LiDAR Joint Research Lab’ at KAIST in Daejeon to develop LiDAR sensors for advanced autonomous vehicles.

The joint research lab aims to develop high–performance and compact on–chip sensors and new signal detection technology that are essential in the increasingly competitive autonomous driving market.

On-Chip LiDAR joint laboratory establishment and agreement ceremony

On–chip sensors, which utilize semiconductor manufacturing technology to add various functions, can reduce the size of LiDAR compared to conventional methods and secure price competitiveness through mass production using semiconductor fabrication processes.

In addition, the current LiDAR sensors measure the distance to objects by emitting and measuring the time it takes for light to return. However, the next–generation signal detection method, called Frequency Modulated Continuous Wave (FMCW), emits light with a frequency that varies over time and analyzes the frequency shift of the returning light to detect distance.

Compared to existing methods, this technology has less signal noise, can calculate relative speed with objects, and can exclude interference from external light sources such as sunlight, making it relatively advantageous in severe weather conditions.

The joint research lab will consist of about 30 researchers, including the Hyundai–Kia Institute of Advanced Technology Development research team and KAIST professors Sang–Hyeon Kim, Sangsik Kim, Wanyeong Jung and Hamza Kurt from KAIST’s School of Electrical Engineering, and will be in operation for four years until 2028.

KAIST will be leading the specialized work of each research team, such as the development of silicon optoelectronic on–chip LiDAR components, fabrication of high–speed, high–power integrated circuits to run the LiDAR systems, and the optimization and verification of LiDAR systems.

Hyundai Motor and Kia, together with Hyundai NGV, a specialized industry–academia cooperation institution, will oversee the operation of the joint research lab and provide support, such as monitoring technological trends, suggesting research directions, deriving core ideas and recommending technologies and experts to enhance research capabilities.

Tata Technologies and TiHAN-IIT Hyderabad Collaborate on Software Defined Vehicles (SDVs) and Advanced Driver Assistance Systems (ADAS)

Tata Technologies, a global engineering and product development digital services company, has signed a Memorandum of Understanding (MoU) today with TiHAN, IIT Hyderabad, to collaborate in the areas of Software Defined Vehicles (SDV) and Advanced Driver Assistance Systems (ADAS). As Automotive companies strive to develop SDVs with autonomous technologies, they look for innovative solutions and accelerators that help them reduce technology incubation time and cost. Tata Technologies and TiHAN will collaborate towards solutions that address these specific challenges being faced by companies in developing SDVs that incorporate the latest technologies. The collaboration will specifically focus on:

• Development of platform/s and Proofs of Concept (POC) that optimize product development timelines.
• Enabling upskilling and hands-on training for Tata Technologies engineers at TiHAN in new technology areas.

We believe that this collaborative approach to innovation will help drive the future of automotive technology and contribute to a more sustainable, connected, and technologically advanced industry.

TTL & TiHAN-IITH Team during Signing Ceremony

Reflecting on the collaboration with IIT Hyderabad TiHAN, Mr Warren Harris, MD, and CEO of Tata Technologies, said, "We believe that automotive companies rely on Tata Technologies to address their product development challenges and enable them to conceptualize, develop and realize better products that are safer, cleaner, and connected. Through this collaboration with TiHAN, IIT Hyderabad, we aim to collaborate and support innovations in the area of SDVs and associated technologies that help automotive manufacturers develop and manufacture great products. We will leverage our 25+ years of automotive domain knowledge and access to customers across the globe to help TiHAN-IIT Hyderabad develop a comprehensive set of solutions and accelerators for the automotive industry and upskill engineers on emerging technologies.”

Prof B S Murty, Director, IIT Hyderabad, expressed his congratulations to both TiHAN-IITH and Tata Technologies on their collaboration. “He emphasized the potential for significant innovation in the automotive industry that can result from this collaboration. Prof Murty also highlighted the TiHAN Testbed, a state-of-the-art facility and the first-of-its-kind in the nation, which is a dedicated facility for testing and validating a wide range of use cases of autonomous vehicles. He expressed his confidence that this collaboration will propel the progress of innovative solutions for autonomous navigation with potential global impact.”

Mr Sriram Lakshminarayanan, President & Chief Technical Officer of Tata Technologies, expressed his enthusiasm for the collaboration, stating, "We can leverage our collective expertise and resources to explore use cases for SDV by adopting modern System on Chip (SoCs), Artificial Intelligence (AI), Machine Learning (ML), Over the Air (OTA) frameworks, and Connected technologies within the realm of Software Defined Vehicles. We believe that this collaboration will support the creation of solutions in SDVs, reaffirming our commitment to advancing the industry towards a technologically advanced future."

Prof P Rajalakshmi, Project Director, Dept. of Electrical Engineering at IIT Hyderabad, stated, "TiHAN at IITH has been established to focus on the research and development of autonomous & intelligent navigation systems. We believe that the collaboration with Tata Technologies is set to create valuable collaborative research focusing on innovative smart mobility solutions such as ADAS and SDVs.”

About IIT Hyderabad:

Indian Institute of Technology Hyderabad (IITH) is one of the eight new IITs established by the Government of India in 2008. In a short span of 15 years, the institute has become a top-ranker. It has 300+ full-time faculty, ~4,200 students, 18 Departments + Centre for Interdisciplinary Programs, nearly 200+ state-of-the-art laboratories, and five research and entrepreneurship centres. The institute has a strong research focus with approx. Rs ~700 crores of sanctioned research funding, with PG+PhD students accounting for about 60% of total student strength. IITH has more than 8700+ research publications with 1,30,000+ Citations, 190+ Published Patents, 2,000+ sponsored/consultancy projects with 500+ running projects, and about 125+ startups that have generated 1000+ jobs and a revenue of Rs. 800+ Cr. 
To know more, please visit https://www.iith.ac.in/

You can view all press releases/ notes from IIT Hyderabad at: https://pr.iith.ac.in/pressrelease.html

About TiHAN-IITH

Department of Science and Technology (DST), under National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS), has sanctioned the prestigious Technology Innovation Hub (TIH) in the technology vertical of Autonomous Navigation and Data Acquisition Systems (UAVs, ROVs, etc.).

Technology Innovation Hub on Autonomous Navigation (TiHAN) at IITH is a multi-departmental initiative, including researchers from Electrical Engineering, Computer Science and Engineering, Mechanical and Aerospace Engineering, Civil Engineering, Mathematics, Design, Entrepreneurship at IITH with collaboration and support from reputed institutions and industry. A first-of-its-kind integrated testbed on Autonomous Navigations (Aerial/Terrestrial) on the IITH campus was setup, which has state-of-the-art facilities such as Proving Grounds, Test tracks, Mechanical integration facilities like Hangers, Ground control stations, State of the art Simulation tools (SIL, MIL, HIL, VIL), Test tracks/circuits, Road Infra – Smart Poles, signalized & unsignalized Intersections, Environment Emulators like Rainfall Simulators, V2X Communications, Drone Runways & Landing area, Control Test center. TiHAN-IITH is envisaged as the destination for collaborative research for next-generation mobility solutions between academia, industry, and R&D Labs, both national and international. Follow us on Instagram, LinkedIn, Twitter, and Facebook for the latest updates.

To know more, please visit: https://www.tihan.iith.ac.in/

About Tata Technologies:

Tata Technologies is a global product engineering and digital services company focused on fulfilling our mission of helping the world drive, fly, build, and farm by enabling our customers to realize better products and deliver better experiences. Tata Technologies is the strategic engineering partner businesses turn to when they aspire to be better. Manufacturing companies rely on us to enable them to conceptualize, develop and realize better products that are safer, cleaner, and improve the quality of life for all the stakeholders, helping us achieve our vision of #EngineeringABetterWorld. For more, visit us at https://www.tatatechnologies.com/in or learn more here. Follow us on Instagram, LinkedIn, Twitter, Facebook and YouTube for the latest updates. 

Disclaimer

“Tata Technologies Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers JM Financial Limited at www.jmfl.com, Citigroup Global Markets India Private Limited at www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, BofA Securities India Limited at www.ml-india.com, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the red herring prospectus (“RHP’”) which may be filed with the Registrar of Companies, Maharashtra at Pune (“RoC”), in future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI in making any investment decision.”

Israel-based Wonder Robotics Launches Autonomous Drone Solution With a $4 Mn Seed Round

This new solution allows drones to land safely and autonomously, enabling commercial use of drones at scale

Wonder Robotics, a technology company specializing in the autonomous flight and landing of commercial drones, announced the closing of a $4 million fundraising round led by Elron Ventures, in conjunction with Besadno Investment Group. The funds will be used to scale up operation and marketing efforts, while developing technology for additional applications.

Safe autonomous operation is this market’s enabler and at the heart of the rapidly developing drone regulation, and is being strongly promoted by the biggest industry players. Currently, the technology for operating drones beyond visual line of sight (BVLOS) is lacking, which hinders the ability to provide safe, autonomous drone flights, making the commercialization of drones expensive and unscalable. As a response, Wonder Robotics developed their unique “WonderLand” for precise autonomous landings, that can be installed on any drone. Clearing landing zones in real-time, enables emergency autonomous contingency landings, in unprepared, uncharted, and unattended sites.

Wonder Robotics’ smart safety layer includes vertical awareness and robust precision landing, permitting drone safety beyond the operator/mission manager’s visual line of sight. In urban environments, this can prevent collisions with people and natural and infrastructural impediments such as trees, cables, buildings, and other dynamic environmental factors.

“We are thrilled to take part in the drone revolution, by partnering with major industry players leveraging on our technology to launch their commercial multi-drone operations,” said Idan Shimon, co-founder, and CEO of Wonder Robotics. “Since raising the seed round, we have partnered with Spright, Air Methods’ new drone division, helping it realize its mission to improve access to urgently needed medical supplies for healthcare providers.”

Wonder Robotics believe that their technology is ideal for commercial package delivery, infrastructure inspection, mapping, and advanced urban mobility for people (UAM). Their vision is to expand their offering to include horizontal situational awareness for navigation, obstacle detection, avoidance, and safe precision landing in the case of denied GPS.

"Wonder Robotics' founding team are true industry experts and have the knowledge and technical expertise needed to enable a market waiting to take off, and establish WonderLand as an industry standard," said Lauren Duke, Vice President of Business Development at Elron Ventures.

"Our investment in Wonder Robotics is perfectly aligned to our strategy of investing in domains where we can provide added value, by leveraging on our strategic partnership with Rafael and its validation platform for deep-tech ventures," added Kobi Katz, Partner, and CTO at Elron Ventures and former VP and CIO at Rafael.

IIT Bombay Prof Develops Autonomous Tech for the Repair and Restoration of High-Value Aerospace Components

New technology can autonomously repair & restore high-value components such as moulds, turbine blades & aerospace components

A professor from IIT Bombay has developed a completely autonomous technology for the repair and restoration of high-value components such as moulds, turbine blades, and other aerospace components that require minimal human intervention. It is expected that this technology will leap-frog the restoration and repair industry to the next level and help in nucleation of a viable cutting-edge laser manufacturing ecosystem for Atmanirbhar Bharat.

The existing repair techniques like welding and thermal spraying are ad hoc and do not provide accuracy and precision. Moreover, all the existing technologies are manual, and the quality of repair depends upon the skill set of the person.

Prof. Ramesh Kumar Singh, Professor, Mechanical Engineering Department, IIT Bombay, has developed a novel technology that uses a laser for excellent process control and is completely autonomous with minimal to zero human intervention. This ensures restoration with enhanced quality and repeatability.

The complete developed system with its all subsystems. There are two options for the manipulation of the deposition head: one with 6 Axis robotic manipulators and the second with gantry-based 5 Axis systems. A 3D printed hollow cylinder, plate, and punch of H13 tool steel hard-faced with CPM 9V steel are also shown

The technology developed with support from the Advanced Manufacturing Technologies Program of the Department of Science & Technology, Government of India, has undergone validation and testing.

With the help of the technology, the defective component which requires repair will be scanned autonomously for damage detection via a laser scanner, and the deposition path will be determined based on certain algorithms. The laser-directed energy deposition (LDED) technique will be used to deposit the material, followed by finishing and automated inspection of the restored product.

The developed system consists of a robotic restoration system and is designed to function autonomously for all key activities, namely, scanning path planning, damage detection, deposition, finishing, and inspection. In addition, the process parameters will be obtained from physics-based models to induce favourable residual stress, which is one of the key limitations in restoration via additive manufacturing. This paves the way for the development of ‘science enabled technology’ solutions, which according to Prof. Ramesh Kumar Singh, are not available for restoration of high-value components.

The final integration of the two systems-- the laser-directed energy deposition and the defect scanning systems, is underway, and the project is at 7th stage of the Technology Readiness Level. Prof. Ramesh has allied with Bharat Forge, Aditya Birla Science and Technology Company and Interface Design Associates for its industrial uptake.

 The Scanning System for the damage assessment of components. The 3-D point cloud can be acquired by data-fusion of 2-D profiles obtained continuously from laser scanners and the position of robot end-effecter. The actual and scanned 3D free form components are also shown.

"The developed technology is very impactful, and a game-changer for the restoration and repair segment of the manufacturing industry and has huge market potential. The components which can be reconditioned via this technology are very high-value. The level of accuracy and precision, which is possible through this technology, is phenomenal and is far ahead of the current state-of-the-art methods," mentioned Prof. Ramesh.

According to Prof. Ramesh, it is expected that the pay-off from the technology would include the entire machine cost with around repair of twenty-odd components.

Source - www.pib.gov.in

Fully Electric, Autonomous Shuttles Set to Launch in US in 2024

Benteler Electric Vehicle Systems, Beep and Intel's Mobileye have together announced a strategic collaboration to develop and deploy automotive-grade, fully electric, autonomous movers/shuttles in public and private communities across North America. These shuttles are expected on public roadways in the U.S. starting in 2024.

These electric and autonomous (SAE Level-4 ) shuttles will be built by Benteler EV Systems having Mobileye’s self-driving system called "Mobileye Drive™ ", and supported by Beep’s proven deployment and operations systems, technology and services.

BENTELER Electric Vehicle Systems is an independent business unit of German auto maker Benteler focused on e-mobility systems,

The shuttles will feature 12 to 14 seats and no steering wheel or pedal. The vehicles will be operated in “contained geo-fenced areas” where speed limits are 35 miles an hour or less.

Production will take place in the U.S., with the ambition to roll out these driverless e-shuttles to other countries helping deliver the mobility of the future.

Marco Kollmeier, managing director of Benteler EV Systems GmbH, said, "Autonomous movers are the solution for future public transportation, solving the mobility challenges of increasing urbanization and emissions. These movers need to be robust for 24/7 public or commercial use, at optimized costs and with excellent riding comfort. Consequently, we decided to go for this strategic collaboration with our partners Mobileye and Beep, to build autonomous movers delivering exactly against these market demands. Another example of how we make the mobility of tomorrow lighter, safer and more sustainable."

Mobileye, a market leader in autonomous driving solutions, is already operating in Israel, Germany, Japan, China, France and the U.S. Intel Corp. acquired Mobileye in 2017, for about USD 15 billion. Intel later acquired an another Israel -based mobility startup, Moovit, in 2020 and merged it with Mobileye.

Autonomous Tech Co. FLO MOBILITY Bags $400K Funding in Round Led by DevX Venture Fund, Venture Garage Angels and Blume Founder Fund

Flo Founders

• Funding will be used to expand the network in India
• Company to foray into Europe, USA, Middle East & East Asian markets
• Build Tech capabilities and recruit aggressively

Flo Mobility, a vision-based autonomous technology company, today announced that it has raised $400K from DevX Venture Fund, Venture Garage Angels, Blume Founders Fund and other marquee angels. The company’s stated vision is to build a universal autonomy platform that can bring autonomous capabilities to vehicles across industries and form factors. The company is deploying its stack on a wide variety of vehicles like electric scooters, delivery bots, agri-weeders, surveillance bots, golf carts, lawnmowers, etc. Founded in 2019 by Manesh Jain and Mohan Kumar Flo Mobility aims to democratize autonomy by building an affordable, compute lite and interoperable stack that can also be retrofitted into existing vehicles and equipment.

Speaking on the occasion, Mr Manesh Jain, Founder - Flo Mobility, said, “The funding from DVF and others comes at an exciting time as we seek to expand nationally and to the US, Middle East, Europe and East Asia. As we recruit aggressively across our technology, product and engineering teams, we will be further deepening our 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"

Commenting on the funding, Mr Umesh Uttamchandani, Co-founder & CGO, DevX, (lead investor), “We are excited to infuse funds in Flo Mobility. At DVF (DevX Venture Fund) our investment approach largely revolves around having a strong founding team which, someone of the likes of Manesh with a previous exit under the belt where his venture was acquired by Jio Embibe, serves as a perfect match. 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.”

“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. My best wishes to the founders to build a 100X business”, commented Vivek of Venture Garage.

Sarita Raichura of Blume founder's Fund added, "Manesh has been known to us as the founder of Mockbank, a Blume portfolio that exited to Jio Embibe. His co-founder Mohan, has a solid background in hardware and tech. 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. Indian deep-tech ecosystem is showing signs of maturity where companies like Flo Mobility are building for the world out of India and we are excited to be part of Manesh’s second innings through the Blume Founders Fund".

DevX Venture Fund invests in early-stage startups, already having invested in 8 ventures, DVF’s investments so far are largely into Fintech, SaaS, Healthcare, PropTech, AgriTech and DeepTech. They not only invest in startups but also help them with rapid scaling through their existing network, strategy support and follow-on fundraising. DVF is part of DevX Co-working& Accelerator, Gujarat’s top and largest provider in the Co-working and Managed Office Space segment, founded in September 2017 by 3 entrepreneurs Rushit, Umesh, Parth (the RUPaiyya trio as they are known in the ecosystem) and Dev Information Technology Ltd.

About DEVX:

DevX is a co-working cum accelerator envisioned to provide world-class, best-in-breed services to its clients. Firmly rooted in the ethos of collaborative growth through partnerships, DevX offers immersive accelerator services across the value chain.