Bengaluru-based transport automation software startup Routematic has raised ₹17.5 crores ($2.5 million) in pre-series A round of funding from Naresh Malhotra, former CEO of Coffe Day. Existing investor VAMM Ventures also participated in the funding round taking the total funds raised to ₹31.5 crores ($4.5 million) till date.
The startup plans to use the freshly raised capital to expand its operations including staff transportation, the fleet marketplace and staffing. Furthermore, the funds will be used towards establishing the startup as a notable EV player in the country in the upcoming 1-1.5 years. Routematic is also in the process of building a smart city urban mobility network through electric vehicle supply chain technology.
Founded by Sriram Kannan and Surajit Das, the startup operates an AI-enabled commute marketplace moved by a supply chain technology to create a single window employee transport solution. Routematic helps large organizations automate and optimize distribution and planning, transportation, asset monitoring, logistics and sales force effectiveness. The startup reduces fleet cost by 10-15 per cent delivering 100 per cent statutory compliance.
The startup currently operates in Pune, Bengaluru, Chennai, and Delhi NCR. Prior to this development, Routematic raised two undisclosed rounds from Blume Ventures. Routematic competes with MoveInSync and Safetrax in the employee transport automation segment. Recently, Bengaluru-based MoveInSync piloted a cab-hailing application with 500 cars for premium customers in the city.