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Routematic, a provider of employee fleet management and transport automation solutions, has secured $40 million in a Series C funding round led by Fullerton Carbon Action Fund and Shift4Good.
Routematic previously raised approximately $6 million across investment rounds led by Blume Ventures, VAMM Ventures, and Bosch between 2015 and 2021. In November 2020, it raised $2 million from Bosch Limited at a valuation of $28 million. The company’s current valuation could not be ascertained.
Routematic’s next phase includes setting up city-level command centers to manage fleet operations based on demand. It also plans to convert 30% of its fleet to EVs to support clients’ ESG goals.
Routematic offers a full range of services for corporate mobility, including technology for transport, transport as a service using its own fleet, and transport operations management. Currently present in over 23 cities across India servicing more than 300 clients and 300K monthly users.
India’s employee transportation market is expected to reach $13.2 billion by 2030, driven by business growth, employee needs, and sustainability. Routematic plans to grow its corporate commute services and expand its fleet to over 10,000 vehicles in the top five cities by March 2026.
Routematic has joined a group of startups that have raised funding after a long gap. Amazon-backed ToneTag became one of the rare startups to secure funding after a seven-year hiatus. Similarly, Cashfree raised funds after four years, while Zeta (equity) and Oxyzo (debt) secured investments following a three-year gap.
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