indiGOtech Closes Strategic Funding Round from Industry Giants to Accelerate Sustainable Ride Hail and Delivery for Communities

Rhea-AI Summary

indiGOtech (GO) has secured a significant $54 million Series BB funding round from industry leaders including FedEx, Foxconn, and FM Capital. The Massachusetts-based mobility tech company is revolutionizing sustainable transport with its patented SmartWheels™ technology.

GO is launching two key vehicles: The DASH, a $20K EV with 90 cubic feet interior and 110-mile range, available Q4 2025; and the FLOW, featuring SmartWheels™ technology with 185 cubic feet space and 200+ mile range. Both vehicles target the ride-hail and delivery markets.

The company's strategy includes establishing GO Loop service hubs for EV maintenance and charging, while its recent acquisition of Clevon adds autonomous driving capabilities. Led by MIT entrepreneurs and CEO Will Graylin, GO has partnered with TD Cowen to secure Series C funding by year-end.

Positive

• Secured $54M Series BB funding from major strategic investors FedEx and Foxconn
• Ready to launch DASH EV in Q4 2025 with competitive $20K price point after tax credits
• Acquired Clevon for autonomous driving capabilities and teleoperations
• Signed with TD Cowen as investment banker for upcoming Series C round
• Holds patents for SmartWheels technology and Smart EVs
• CEO has track record of scaling 4 previous tech ventures including Samsung Pay

Negative

• Products not yet in market - revenue generation yet to begin
• Will require additional funding through Series C to bring FLOW model to market
• Dependent on successful pre-orders for Q4 2025 DASH launch
• Faces competition from established Mobility Network Companies

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BOSTON, April 29, 2025 /PRNewswire/ -- indiGOtech (Tradename: GO), a new mobility tech company based in Massachusetts, today announced it closed a $54 million Series BB funding round, including investments from FedEx (NYSE: FDX), Foxconn (2354.TW) and FM Capital. These investments accelerate GO's mission to provide sustainable local transport, leveraging its patented SmartWheels™, Smart EVs and Smart Mobility Services. Mobility Network Companies (MNCs) today all compete for gig drivers that mostly use gas cars because EVs are still too expensive, hard to recharge and expensive to repair. GO is pioneering radically new SmartWheels™ powered EVs and AVs (autonomous vehicles) that are roomier, smoother and safer, yet more cost-effective to own, operate and repair. GO EVs will also be more accessible via GO Loop service hubs that will maintain, charge and repair the EVs for drivers to access and earn a fair income with flexible hours.

Our SmartWheels powered EVs, and AVs offer superior user experiences and unit economics for ride hail and delivery.

"GO is run by MIT entrepreneurs with patented deep tech applied to the growing needs of drivers and fleets." Will Graylin, CEO, said. Will Graylin, who led four previous tech ventures to reach mass commercial scale, including Samsung Pay. "Our SmartWheels powered EVs, and AVs offer superior user experiences and unit economics for ride hail and delivery companies and drivers to better serve their communities."

GO is offering multiple light smart EVs for fleets and mobility companies. The DASH can seat four and carry packages with a spacious 90 cubic feet interior, 110 miles of range and is priced around $20K after tax credits; it is now ready for pre-orders with fulfillment in Q4 of 2025. The FLOW is powered by GO SmartWheels™ (a breakthrough integrated smart suspension and propulsion system in each wheel), that enable a magic carpet like experience, 185 cubic feet of space, 200+ miles of range and a low flat floor for easy seat changes and ingress/egress for people, packages and wheelchairs.

The FLOW is 100% drive-by-wire capable, with a center drive cockpit ideal for ergonomics and for easy switching between human drivers and autonomous driving systems (ADS) needed by MNCs. GO recently acquired Clevon, an unmanned delivery vehicle provider with teleoperations and ADS capabilities, to accelerate GO's SmartWheels platform development and to integrate our SmartWheels™ modularly with best-in-class regional ADS providers to serve local MNCs.

This round of strategic funding from FedEx and Foxconn positions GO very well to start GO Loop services, launch the DASH, and secure a Series C by year end to bring the FLOW to market. GO has also signed with TD Cowen as its investment banker to raise its Series C from large strategic and institutional investors. GO's talented team across U.S., Europe and Asia is excited to be innovating towards the future of sustainable ride hail and delivery solutions.

About indiGOtech

indiGOtech (Tradename: GO) is a new mobility tech company providing next gen EVs and transport services for sustainable local ride hail and deliveries, with superior user experience and unit economics. GO's patented SmartWheels™ power Smart EVs and AVs called FLOW, that are roomier, smoother and safer, yet more efficient and economical. GO Loop provides local electric transport services (LETS) with Smart EVs and Service Hubs and Smart Driver Management to supply mobility companies with more cost-effective rides and deliveries. Join us in the mission to provide more sustainable transportation for our communities — LETS GO! www.indiGOtech.com

Disclaimer : This press release contains forward-looking statements based on current expectations, estimates, forecasts, and projections about the industry in which the company operates and management's beliefs and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ.

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SOURCE Indigo Technologies

FAQ

How much did FedEx invest in indiGOtech's Series BB funding round in April 2025?

FedEx participated in indiGOtech's $54 million Series BB funding round alongside Foxconn and FM Capital, though the specific investment amount from FedEx was not disclosed in the announcement.

What are the key features of indiGOtech's DASH EV launching in Q4 2025?

The DASH EV features a 90 cubic feet interior, seats four passengers, can carry packages, offers 110 miles of range, and is priced around $20,000 after tax credits.

How does indiGOtech's SmartWheels technology impact FDX delivery operations?

SmartWheels technology provides integrated smart suspension and propulsion in each wheel, enabling superior user experiences and better unit economics for delivery operations through improved space utilization and smoother rides.

What is the difference between indiGOtech's DASH and FLOW electric vehicles?

The DASH offers 90 cubic feet interior space and 110 miles range for $20K, while the FLOW features 185 cubic feet space, 200+ miles range, SmartWheels technology, and is autonomous-ready with a center drive cockpit.

When will indiGOtech launch its GO Loop services following FDX investment?

Following the strategic funding from FedEx and Foxconn, indiGOtech plans to launch GO Loop services and the DASH vehicle in Q4 2025, with Series C funding planned by year-end to bring the FLOW to market.