Transport automation software provider Routematic has raised $2.5 million in a pre-Series A round led by former CEO of Coffee Day – Naresh Malhotra. Existing investor VAMM ventures also participated in the round that takes total funding raised by the startup to $4.5 million till date.
With the fresh funding, Routematic is planning to expand its operations, which include staff transportation, fleet marketplace, and staffing. A significant part of the funding will be deployed towards establishing Routematic as a notable EV player in the country in the next 12 months.
The Bengaluru-based startup is in the process of building a smart city urban mobility network through electric vehicle supply chain technology.
A brainchild of Surajit Das and Sriram Kannan, Routeatic is an AI-enabled tech-driven commute marketplace that is moved by a supply chain technology to create a single window employee transport solution. It helps organisations automate and optimise distribution and planning, transportation, asset monitoring, logistics and sales force effectiveness.
The startup claims to reduce the organisation’s fleet cost by 10-15 per cent, delivering 100 per cent statutory compliance and eliminate the fleet shortage.
Founded in 2013, Routematic operates in 6 cities including Pune, Bengaluru, Delhi NCR and Chennai.
Prior to pre-Series A, the startup had raised two undisclosed rounds Blume Venture.
In employee transport automation technology space, Routematic finds MoveInSync and Safetrax as its direct competitors. Of late, Bengaluru-based MoveInSync piloted a cab-hailing application with 500 cars for premium customers in the city.