SaaS

Fleetx.io Raises ₹113 Crore in Series C Funding to Strengthen Product and Sales Capabilities

• ByStartupStory     |    May 27, 2025

Fleetx.io, a Gurugram-based SaaS startup focused on AI- and IoT-driven fleet and logistics management, has raised ₹113 crore in a Series C funding round. The round included both primary and secondary investments and was led by existing investors IndiaMART Intermesh and BEENEXT’s Accelerate Fund.

Founded in 2017 by Vineet Sharma, Abhay Jeet Gupta, Vishal Misra, Udbhav Rai, and Parveen Kumar Kataria, Fleetx has emerged as a leading technology platform transforming logistics operations for mid-market and enterprise clients across India.

Fleetx plans to leverage the fresh capital to further enhance its product capabilities and strengthen its sales operations. The company will maintain a sharp focus on expanding its footprint among mid-size and large enterprises operating in key sectors such as transportation, manufacturing, mining, FMCG, and cement.

Speaking on the funding, Vineet Sharma, Co-founder and CEO of Fleetx, said:
“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. We will continue to invest aggressively in our product capabilities while building a durable, efficient business delivering measurable value to our customers.”

Fleetx currently serves over 2,000 businesses, including notable names such as Ultratech Cement, Unilever, Adani Group, Godrej, Vedanta, Shree Cement, MP Birla Group, Maersk, Hindalco, Grasim, AM/NS India, Bisleri, Panasonic, and DTDC.

Dinesh Agarwal, Founder and CEO of IndiaMART, praised Fleetx’s execution and market potential:
“Fleetx has shown strong product–market fit and disciplined execution in tackling logistics challenges. Their AI and IoT platform aligns well with our vision of empowering businesses, and we’re glad to deepen our partnership.”

The funding round is a significant milestone in Fleetx’s journey toward profitability and long-term sustainability. According to Sharma, “This round gives us more than enough runway to become fully profitable within the next year and prepare the company for IPO readiness.”

Hero Choudhary, Managing Partner at BEENEXT, added:
“Fleetx stands out for its capital-efficient growth and sharp focus on logistics tech. We believe they’re well-positioned to build a globally relevant SaaS business from India.”

The company’s data-centric and AI-first approach to solving logistics inefficiencies puts it in a strong position to lead innovation in the space as it accelerates its growth trajectory.

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