Gurugram based Fleet management startup Fleetx.io has raised $3.1 Mn in pre-Series B funding from existing investors including Singapore-based Beenext and India Quotient. The company raised $2.8 million in a Series A round earlier this year from Beenext, India Quotient, Titan Capital, and some renowned angels.
Fleetx.io was founded in 2017 by IIT, NIT, and Purdue university graduates, Vineet Sharma, Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria, and Vishal Misra.
Vineet Sharma, CEO and Co-founder, Fleetx said, “We are already at pre-COVID growth numbers and see a significant demand surge for software and digitisation in the near future. We will use these funds to tap post-COVID digitisation opportunities by strengthening our product/tech even further and expanding our presence in India and other markets.”
Dirk Van Quaquebeke, Managing Director at Beenext said, “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.”
The global pandemic caused due to Covid-19 has accelerated the demand of services which are available digitally as commutation was happening for essential services only and the company was getting a lot of end-to-end digitisation requests from existing and new customers.
Fleetx.io will use the pre-Series B funding of $3.1 million to double down on product and expansion plans to meet the growing digitisation demand in logistics post COVID-19.