Loxo AG develops and manages teleoperated electric delivery vehicles, named LOXOMY, to provide an Automated Delivery as a Service (ADaaS). The company aims to disrupt the delivery service industry by proposing a significant reduction of the delivery service costs.
LOXO's vehicles will be able to run autonomously in most complex situations, but may be supervised by a teleoperator if required so.
The first prototype has been tested successfully and the production of the first pre-series is undergoing. The service consists of the vehicle, fleet management, last-mile delivery, teleoperation, and notification of the client.
The team around Amin Amini developed a fully integrated tech solution that is forward-looking. All the engineering and intellectual property is made in-house within LOXO. The company has a great potential to outperform competitors from overseas due to its technological properties.
Other pilot projects are being currently negotiated with big Swiss corporates. This investment could especially become interesting in the long run as LOXO is aiming to become a key player in the delivery industry in Switzerland and Europe. Loxo AG is planning to officially present the brand and product within a few months from now.
Since the initial investment of Serpentine Ventures Rookie Fund I in Loxo AG, several positive developments have taken place, including:
From the product perspective, LOXO signed contracts with key supplier partners and has successfully built and tested the first autonomous vehicle and a teleoperation center. The company submitted two patents to protect their modern technology.
From the business perspective, LOXO signed commercial agreements for a first pilot project expected to take place in the coming months. Following the pilot project, the national roll-out is planned for the following year. That is why we did a follow-on investment in LOXO.
