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Routematic, a transport-as-a-service solution provider, has raised $40 million in a Series C funding round led by Fullerton Carbon Action Fund and Shift4Good.
The startup plans to use the funds to grow its operations and strengthen its presence in current markets.
It also plans to expand its fleet to over 10,000 vehicles across Bengaluru, Pune, Delhi NCR, Chennai and Hyderabad by March 2026.
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Routematic has raised around $6 million in funding since 2015 which backed by investors like Blume Ventures, VAMM Ventures and Bosch.
In November 2020, Bosch Limited invested $2 million at a $28 million valuation.
“We are also setting up relay operation centers (ROCs), which refers to automatic operations command centers that centralises all operations in a city level, into a common area that is where we run it. This would act as a multiple companies level operation center from which the entire city can be monitored, operated, where drivers will come and attach themselves," cofounder and chief executive Sriram Kannan said.
About Routematic
Founded in 2012 by Sriram Kannan and Kavitha Ramachandragowda, the Bengaluru-based Routematic is an urban mobility startup that offers safe and comfortable employee transport services to companies in India.
According to Kannan, the use of AI has helped the company plan better routes, saving time and reducing the number of vehicles needed each day. AI also helps them place their fleet in the right areas by predicting where demand will be high across the city.
Routematic currently operates in over 23 cities in India, serving 300+ clients and over 3 lakh users every month.
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