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

1. FedEx invested $54 million in indiGO Technologies' funding round. 2. indiGO focuses on sustainable local transport with EVs and SmartWheels technology. 3. GO Loop will provide accessible local transport services for drivers and fleets. 4. New EVs offer improved user experience, less cost for MNCs compared to gas vehicles. 5. GO aims to enhance ride-hail and delivery efficiency through technological innovations.

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FAQ

Why Bullish?

FedEx's investment in innovative EV technology aligns with sustainability trends, which can boost long-term growth potential. Historical investments in EV technologies often yield positive returns as market demand increases.

How important is it?

The investment indicates FedEx's commitment to innovative technology, signaling potential future advantages in logistics. The EV market is projected to accelerate, making strategic investments critical.

Why Long Term?

Sustainable transportation investments typically require time to mature, as seen with Tesla’s gradual growth following early funding rounds. Impact may unfold as GO begins market deployments in 2025.

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indiGO Technologies GO logo. indiGO Flow Cargo. One of three vehicles in the GO line-up. , /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. "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 indiGOtechindiGOtech (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.comDisclaimer : 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.SOURCE Indigo Technologies WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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