Gurugram based Fleetx.io raises $19.4M in Series B round

FleetX, a Gurugram-based freight visibility and fleet management platform, announced on Tuesday that it has raised $19.4 million in Series B funding led by IndiaMart, with existing investors India Quotient and BEENEXT participating.

Vineet and his co-founders Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria, and Vishal Misra launched the company in 2017. It promises to provide a set of IoT and software-based technologies to help fleet operators and industries digitise their logistical operations and increase the safety, efficiency, and long-term viability of their vehicles and operations.

Over 400+ customers are being served by Fleetx.io, which claims to give visibility and analytics. It helps fleet owners and industries increase their efficiency by combining AI, big data, and predictive analytics.

Real-time visibility, asset utilisation, theft avoidance, fuel savings, and increased vendor performance are all included in the setup.

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