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Indigo Technologies, a developer of electric vans and software for ride-share fleets and last-mile delivery services, is raising $65 million in Series C funding, Axios Pro has learned.

Why it matters: The startup, which is challenging Waymo and Zoox, expects to roll out robotaxi-ready vehicles in 2028.

Driving the news: Indigo so far has raised $40 million in the round and expects to close in Q3.

Flashback: Axios Pro first reported last year that Woburn, Mass.-based Indigo Technologies was preparing to raise up to $300 million in Series C funding, with an anticipated close by the end of 2025.

"That is going to come in 2027," one source says, adding that the company expects to target between $200 million and $300 million.

Follow the money: Indigo Technologies has raised about $155 million since its 2010 launch, per PitchBook, including a $54 million Series B extension in 2025 that drew FedEx, Foxconn, and FM Capital, among others.

How it works: The company is pursuing multiple revenue streams:

It licenses fleet-management software, and manufactures and sells EV charging hardware, to customers such as American Lease, which rents EVs to ride-hail drivers in NYC.

It plans to lease and sell its own EVs to ride-hail services and last-mile delivery providers, starting with its six- and seven-passenger Flow.

And it will run its own ride-hailing and delivery fleet, beginning with Manhattan and San Francisco.

Between the lines: The Flow vehicle is designed to incorporate autonomous-driving technologies, which Indigo is purchasing from suppliers and can install depending on customer demand. 

The driver's seat can also be converted to accommodate an additional passenger in jurisdictions that allow driverless vehicles.

Scoop: Indigo raising $65M for fleet EVs and software

It aims to begin delivering robotaxi-ready EVs in 2028.

A blue Indigo Technologies electric van, designed for ride-hailing and delivery services, on a city street beside a yellow New York City taxi and a white pickup, with glass skyscrapers, a metal-framed storefront window, and metal bollards lining the curb.

Indigo Technologies is developing an EV designed for fleets and compatible with self-driving technologies. Photo: Courtesy of Indigo Technologies

Indigo Technologies, a developer of electric vans and software for ride-share fleets and last-mile delivery services, is raising $65 million in Series C funding, Axios Pro has learned.Why it matters: The startup, which is challenging Waymo and Zoox, expects to roll out robotaxi-ready vehicles in 2028.

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Scoop: Indigo raising $65M for fleet EVs and software

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