PE-VC Fund Investments
Logistics software startup Fleetx raises Rs.65-Cr from Indiamart
Listed B2B e-commerce platform IndiaMART InterMESH is to invest about INR 65-Cr more in the Gurugram-based logistics optimisation platform Fleetx . The transaction involves subscribing to 4,630 compulsorily convertible preference shares (CCPS), which will increase IndiaMART's stake in the company to 25.8%.Founded in 2017 by Vineet Sharma, Abhay Jeet Gupta, Vishal Misra, Parveen Kataria, and Udbhav Rai, Fleetx provides AI-powered software for fleet and logistics management. Its platform allows businesses to track vehicles in real time, monitor fuel consumption, optimise routes, and enhance operational efficiency. The company plans to use the investment to support its ongoing development and expansion.IndiaMART initially invested in Fleetx in 2022, when it led a Series B funding round to acquire a 17% stake. It later co-led the company's Series C round in May 2025.
Between Feb 2019 and May 2025, fleetx had attracted about $ 39 M from Beenext, India Quotient, IndiaMART, Others.For FY25, fleetx had reported about INR 78 Cr in Operating Income and about INR 32 Cr in Net Loss.
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