Routematic’s AI-based platform for corporate mobility has raised $40 million in its Series C round, led by Fullerton Carbon Action Fund and Shift4Good. The funding reflects growing faith in AI-based solutions with the aim to enhance corporate mobility. Routematic’s latest round of funding will be used to further its efforts to create sustainable and AI-driven transportation solutions for the corporate space in India.
Established in 2013 by Sriram Kannan and Kavitha Ramachandragowda, Routematic offers large corporate commuting solutions to more than 300 companies across 23 cities in India. Today, the platform supports more than five million trips per month, benefiting around 300,000 employees.
With this new capital investment, Routematic intends to expand its fleet to more than 10,000 cars in the top five Indian cities by March 2026. The firm also intends to have command centers at the city level and increase the use of electric vehicles to a significant degree, with a target to have 30% of its fleet powered by clean energy.
Routematic’s Software-as-a-Service (SaaS) platform integrated with Artificial Intelligence enables demand-responsive fleet management, which works to reduce transportation expenditures for companies while improving employees’ commuting experience. Sriram Kannan, Chief Executive Officer and Founder at Routematic, highlighted the firm’s commitment to defining the future of the corporate transportation segment and thanked its investors. He added, “This investment will enable us to leverage the increasing need for sustainable corporate mobility and further strengthen our market leadership.”
The Indian employee transportation market is projected to grow to $13.2 billion by 2030, driven by the expansion of global capability centers (GCCs), employee wellness programs, and eco-friendly transportation solutions. Routematic had previously raised $6 million in investment rounds from Blume Ventures, VAMM Ventures, and Bosch between 2015 and 2021. The firm now has command centers in Bengaluru, Pune, and Hyderabad.
Huck Khim Tan, Fullerton Fund Management’s Deputy Chief Investment Officer and Head of Alternatives was impressed by Routematic’s leadership in the market. “Routematic is a well-established, profitable, and high-growth business in India’s transport and urban mobility sector. The business is solving fundamental issues in the space and enabling decarbonization faster by lowering daily trips and promoting the use of electric vehicles,” he said.
