Fleetx.io Poised to Raise Over Rs 100 Crore in Series C Funding Round
• Fleetx.io targets Series C raise of more than Rs 100 crore with insistence on participation of existing investors.
• Post funding, startup would command approximately Rs 1,200 crores in valuation.
• Fleetx raised $19.4 million in Series B.
A SaaS-based logistics management platform, Fleetx.io, is in a position to raise in excess of, Rs 100 crore through, Series C funding, , which is being reported in a few circles. Expectations are that existing investors will put in some hefty sums in this round, with 60-70% of the capital projected to be primary capital.
Started in 2017 by the five-person founding team comprising, Vineet Sharma, Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria, , and Vishal Misra, , Fleetx offers IoT-enabled, software-based solutions to digitize fleet and logistics operations for transporters and industrial customers. Post this funding round, which also has a secondary component that will partly allow early-stage investors, including angels, to exit, the Gurugram-based startup will reportedly be valued at approximately Rs 1,200 crore.
Previously, Fleetx raised $19.4 million in a Series B Round in February 2022 with IndiaMart being the lead investor and with the participation of IndiaQuotient and BEENEXT. There have been some reports about BEENEXT becoming the largest external shareholder after the Series B round itself, followed by IndiaQuotient and IndiaMart.
• Post funding, startup would command approximately Rs 1,200 crores in valuation.
• Fleetx raised $19.4 million in Series B.
A SaaS-based logistics management platform, Fleetx.io, is in a position to raise in excess of, Rs 100 crore through, Series C funding, , which is being reported in a few circles. Expectations are that existing investors will put in some hefty sums in this round, with 60-70% of the capital projected to be primary capital.
Started in 2017 by the five-person founding team comprising, Vineet Sharma, Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria, , and Vishal Misra, , Fleetx offers IoT-enabled, software-based solutions to digitize fleet and logistics operations for transporters and industrial customers. Post this funding round, which also has a secondary component that will partly allow early-stage investors, including angels, to exit, the Gurugram-based startup will reportedly be valued at approximately Rs 1,200 crore.
Previously, Fleetx raised $19.4 million in a Series B Round in February 2022 with IndiaMart being the lead investor and with the participation of IndiaQuotient and BEENEXT. There have been some reports about BEENEXT becoming the largest external shareholder after the Series B round itself, followed by IndiaQuotient and IndiaMart.
.jpg "The Week that Was: Indian Startup News Overview (26th May - 1st June)")
