Foresight Autonomous (FRSX) announced the approval of its joint development and commercialization project with Big Bang Boom Solutions under the India-Israel Industrial research & development and Technological Innovation Fund. With a budget of $5 million, the project is scheduled to begin in September 2025 and will span a 24-month period. The goal of the project is to gradually introduce a variety of mass production drone solutions. This approval follows the Company’s announcement regarding the signing of a Memorandum of Understanding with the same Indian drone manufacturer, as reported on April 10, 2025. The joint project aims to develop rugged, autonomous industrial inspection drones equipped with visible-light and thermal sensors. These next-generation drones are designed for reliable operation in GPS-denied environments and will incorporate advanced AI-based algorithms for autonomous navigation, obstacle detection, and path planning.
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