Manufacturing giant Bosch has invested Rs 148 million (Rs 14.8 crore) in Bengaluru-based B2B SaaS platform Routematic, according to a BSE filing. Investment in Nivaata Systems Private Limited up to 7.14 percent of the Capital on fully diluted basis, aggregating to an amount not exceeding Rs 148 million (Rs 14.8 crore).
The startup was founded in 2013 by Surajit Das and Sriram Kannan, Routematic started as a transport automation solution provider. The platform operates on a SaaS model and offers cloud-based location tracking and vehicle management solutions to corporates.
Routematic claims it is already servicing over 50,000 rides a month through 550 vehicles (350 in Pune and 200 in Bengaluru). By the end of this year, it looks to complete two lakh rides and operate a fleet of 2,000 vehicles.
Routematic does not own any assets, and is only an aggregation platform. Some of the other startups in the space include – MoveInSync, HopOn, Unisys, and Cubito.