Logistics Startup Fleetx.io recently announced that it has raised $3 million in pre-series B round. The round was led by existing investors BEENEXT and India Quotient.
This is the second investment of the company that has been raised this year. In February, they received another INR 10 crores in a Series A round led by BEENEXT.
“We are already at the pre-Covid growth numbers and see a significant demand surge for software and digitisation shortly. We will utilise these funds to tap on post-covid digitisation opportunities by strengthening our product/tech even further and expand our presence in India and other markets.”~Vineet Sharma, CEO and Co-founder, Fleetx.io
Commenting on the investment made by the Singapore-based company, the Managing director of BEENXT said, “Fleetx has built a product which is conquering vertical by vertical in what many perceive a crowded space. The team consistently delivers world-class SaaS key performance indicators.”
The startup which was founded in 2015 by Vineet Sharma, Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria and Vishal Misra aims to provide logistic services with the use of Artificial Intelligence.
The company uses its software-based products to help make operations smooth, improve efficiency and cut down the costs of logistics.
The company has around 1000 clients at present, and their company and services are growing at a swift pace of 20% a month. Vineet, the CEO of the company, also claims that they have grown by over 6 times between 2018 and 2019.