SaaS Startup Fleetx Raises INR 113 Cr in Series C to Accelerate Product Innovation
The company is preparing for its IPO
Fleetx.io, a leading SaaS platform transforming fleet and logistics operations through AI and IoT, today announced its Series C fundraise of Rs. 113 Cr led by existing investors IndiaMART Intermesh Limited and BEENEXT's Accelerate Fund.
The funding will enable Fleetx to accelerate product innovation and scale a sustainable, profitable, and predictable sales engine tailored for both mid-market and enterprise customers across India.
With this round, the company is well-positioned to double the ARR while becoming profitable, laying a strong foundation for a potential IPO in the next couple of years.
Fleetx has experienced remarkable growth of 4x since its last fundraise in early 2022, establishing itself as one of India’s fastest-growing SaaS companies in the logistics and transportation space.
The company now supports over 2,000 businesses, including 100+ large ACV enterprise accounts, across transportation, manufacturing, mining, FMCG, and cement sectors.
Its marquee clientele includes industry leaders such as Ultratech Cement, Unilever, Adani Group, Godrej, Vedanta, Shree Cement, MP Birla Group, Maersk, Hindalco, Grasim, AM/NS India, Bisleri, Panasonic, and DTDC, underscoring its position as the most trusted logistics SaaS partner in the country.
“This round gives us more than enough runway to become fully profitable within the next year and prepare the company for IPO readiness. As we sit on the huge logistics data points, we’re in a unique position to leverage AI to tackle some of the most complex challenges in the sector,” Vineet Sharma, Co-founder and CEO of Fleetx, said.
Its AI-powered platform spans fleet management, trip intelligence, video telematics, fuel analytics, transport ERP, and transportation management system (TMS), enables smarter, safer, and more efficient logistics across one of the country’s most critical and underserved industries.
