Fleetx, an AI powered company that builds logistics management software completed its second round of funding within this year where it has raised $3.1 Million. The series B round of funding was led by Existing investors BEENEXT and IndiaQuotient.

Earlier in February the company had raised $2.8 million in series A funding from Beenext, IndiaQuotient, Titan Capital, and some renowned angels. Fleetx intends to utilize the freshly infused capital to tap on post-covid digitization opportunities and expand its presence across India and other markets.

Vineet Sharma, CEO & Co-founder, Fleetx said in a statement, “We are already at pre-COVID growth numbers and see a significant demand surge for software and digitization in the near future. We will use these funds to tap post-COVID digitization opportunities by strengthening our product/tech even further and expanding our presence in India and other markets.”

Founded in 2017 by Vineet Sharma, Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria, and Vishal Misra Fleetx is has built a platform that helps mid to large fleets monitor and optimize their day-to-day logistics operations.

The Gurugram headquartered company has built solutions that helps users with fuel management systems, SIM based tracking and contact tracing. The company currently has over 50 thousand vehicles and operators using their system and has enabled a 20 percent reduction in their fuel consumption while increasing vehicle trips by 25 percent.

“Fleetx has built a product that is conquering vertical by vertical in what many perceive a crowded space. The team consistently delivers world-class SaaS key performance indicators,” said Dirk Van Quaquebeke, Managing Director, Beenext.