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Founded
2017
Headquarters
Gurugram (India)
Status
Series B
Company Details
Fleetx is a Gurugram-based AI-driven fleet and logistics optimization platform. Operating in the transportation and logistics technology sector, the company serves enterprises, SMEs and government agencies across India, the Middle East, Africa and Southeast Asia. Fleetx’s mission is to digitize physical logistics operations through IoT, AI and data analytics, enabling businesses to improve efficiency, safety, and cost-effectiveness.
Core Products & Services
Real-Time Fleet Tracking: GPS-enabled IoT devices and software for live vehicle location, speed and engine diagnostics.
Route Optimization: AI algorithms to reduce fuel consumption and delivery times by up to 20%.
Predictive Maintenance: Automated alerts for vehicle servicing, reducing downtime by 30–40%.
Driver Behavior Monitoring: Analytics on harsh braking, idling,\ and speeding to enhance safety.
Tyre & Fuel Management: Tools to track tyre lifespan and fuel usage, cutting operational costs.
Customizable Dashboards: Centralized control tower for fleet analytics, reporting, and workflow automation.
Unique Value Proposition
End-to-End Integration: Combines IoT hardware, SaaS platform and AI-driven insights into a unified solution.
Scalability: Serves fleets of all sizes, from 10 to 10,000+ vehicles, with modular pricing.
Industry-Specific Solutions: Tailored for sectors like e-commerce, FMCG, mining and construction.
Business Model & Revenue Streams
Subscription Fees (Primary): Tiered SaaS pricing based on fleet size and features (e.g., basic tracking vs. advanced analytics).
Customization & Integration: Charges for API integrations, white-label solutions and industry-specific workflow setups.
IoT Hardware Sales: Revenue from GPS devices, sensors and onboard diagnostics (OBD) tools.
Consulting Services: Offers training, process optimization and data-driven strategy workshops.
Partnership Commissions: Earns margins from third-party services (e.g., insurance, fuel cards) via its platform.
Customer Segmentation
B2B Enterprises: Large corporations in manufacturing, retail and logistics (70% of revenue).
SMEs: Mid-sized transporters and delivery fleets (25%).
Government: Municipalities and public transport authorities (5%).
Growth Strategy
Geographic Expansion: Targeting Southeast Asia, Africa, and the US by 2026.
Product Innovation: Developing generative AI for demand forecasting and carbon footprint tracking.
Strategic Partnerships: Collaborating with Bosch, Intel and telecom providers to enhance IoT capabilities.
Acquisitions: Exploring buys in telematics and supply chain startups to expand market share.
Key Metrics
Total Equity Funding
$38 Million
No. of Funding Rounds
7
Latest Funding Round
$12 Million, Series C
as of May 21, 2025
Post Money Valuation
$144 Million
as of May 21, 2025
Funding Multiple
3.7
as of May 21, 2025
Investors
Stride Ventures
and 2 moreEmployee Count
519
Similar Companies
GoBOLT
Exit Details
N/A
All Funding Rounds
| Date | Round Name | Amount | Valuation | Revenue | Revenue Multiple | Investors |
|---|---|---|---|---|---|---|
| May 21, 2025 | Series C | $12 Million | $144 Million | - | - | IndiaMart and BEENEXT. |
| February 21, 2022 | Series B | $19.4 Million | $75.6 Million | $3.3 Million | 17.0x | India Quotient, Beenext |
| November 17, 2021 | Series A | $161 K | $24 Million | $2.9 Million | 8.3x | Stride Ventures |
| October 3, 2020 | Series A | $3.2 Million | $24.1 Million | $1.5 Million | 13.7x | Beenext, India Quotient |
| February 19, 2019 | Series A | $2.8 Million | - | - | - | Beenext, India Quotient, Titan Capital |
| December 28, 2018 | Seed | Undisclosed | $2.3 Million | $146. K | 10.6x | India Quotient, Waveform Venture |
| January 16, 2018 | Seed | $121 K | $825 K | - | - | Delite 21st Century Equipent, Yb Software |