Fleetx plans to utilize the funds to advance product development and strengthen its sales operations, focusing on mid-market and enterprise clients in India.
Since its last funding round in 2022, Fleetx has quadrupled in size, surpassing ₹100 crore in annual recurring revenue and serving over 2,000 clients, including major enterprises like Ultratech Cement and Adani Group.
Fleetx reported an operating revenue of ₹56.58 crore for FY24, up from ₹41.63 crore in FY23. The company also reduced its losses by over 55%, bringing them down to ₹24.21 crore.
Fleetx plans to go public in 2 years, focusing on AI-driven logistics solutions to fuel sustainable growth.