$4M Investment Advances indiGOtech’s Smart Electric Vehicle Innovation

MassDevelopment provided a $4 million loan from its Emerging Technology Fund to Indigo Technologies Inc. (indiGOtech), the only electric vehicle manufacturer in Massachusetts. Originally launched at Massachusetts Institute of Technology, indiGOtech designs lightweight, affordable smart electric vehicles built for last-mile delivery and ride-hail services. The loan will strengthen working capital and support the hiring of approximately 35 employees over the next two years, helping the company scale production and continue its growth in the Commonwealth.