Routematic secures $40M in Series C funding to expand corporate commute operations
Routematic plans to use the new capital to scale operations across India’s top five cities, targeting a fleet size of 10,000 vehicles by March 2026. It also aims to convert 30% of its fleet to electric vehicles.
Corporate transport solutions provider raised $40 million in a Series C funding round led by Fullerton Carbon Action Fund and Shift4Good.
It plans to use the new capital to scale operations across India’s top five cities, targeting a fleet size of 10,000 vehicles by March 2026. The company also aims to convert 30% of its fleet to electric vehicles.
In a statement on Wednesday, Routematic said it has set up city-level command centres in Bengaluru, Pune, and Hyderabad, with plans to expand to Delhi-NCR to improve operational oversight and cost efficiency for enterprise clients.
“We are grateful for our investors' trust as we drive the future of corporate transportation. This investment will enable us to capitalise on the growing demand and further strengthen our leadership in sustainable corporate mobility,” said Sriram Kannan, Founder and CEO of Routematic, in a statement.
In prior funding rounds between 2015 and 2021, the company had raised about $6 million from investors, including Blume Ventures, VAMM Ventures, and Bosch.
Founded in 2013, Routematic serves over 300 enterprises across 23 Indian cities. It facilitates about 5 million trips per month for more than 300,000 employees.
Routematic offers a hybrid model combining AI-powered SaaS-based transport management software with Transport-as-a-Service, enabling organisations to manage logistics using Routematic’s fleet or through managed transport operations.
“We believe Routematic has successfully scaled through a unique, capital-efficient, and services-driven business model, delivering automated solutions to a diverse customer base ranging from large enterprises to small businesses. We are excited to support Routematic in their next phase of growth. I am thankful to our team, especially Akhil Jain who has been working with Sriram and Kavitha to make this happen," said Huck Khim Tan, Deputy CIO and Head of Alternatives at Fullerton Fund Management.
Ostara Advisors served as the exclusive financial advisor to Routematic for the transaction.
Edited by Suman Singh