In a significant boost to India’s growing corporate mobility sector, Bengaluru-based Routematic has raised $40 million (INR 340 crore) in a Series C funding round. The investment was led by Fullerton Carbon Action Fund and Shift4Good, two major global investors focused on climate and sustainability. Ostara Advisors, an Indian climate-tech investment- banking firm, advised Routematic through the deal.
This fresh capital will help Routematic expand its operations and scale its fleet to over 10,000 vehicles in major Indian cities by March 2026.
Routematic, founded in 2013, offers AI-powered transport solutions to over 300 corporates in 23 Indian cities. The company enables safe and efficient daily commutes for more than 3,00,000 employees, completing over five million trips each month.
The company plans to use part of the funding to establish city-level command centres that enable real-time, demand-responsive fleet management. These centres aim to reduce transportation costs for companies while enhancing employee commuting experiences. As part of its commitment to sustainability, Routematic also plans to convert 30 per cent of its fleet to electric vehicles, aligning with its clients’ ESG (Environmental, Social, and Governance) goals.
Sriram Kannan, founder and CEO, Routematic said the funding reflects investor confidence in Routematic’s vision to reshape urban transportation. “This investment will enable us to capitalise on the growing demand and further strengthen our leading position in sustainable corporate mobility, “he added. Kavitha Ramachandragowda, co-founder, also highlighted the role of technology and the company’s people-driven culture in driving innovation and scale.
Investors echoed similar sentiments. Huck Khim Tan, deputy CIO and head-alternatives, Fullerton Fund Management praised the company’s scalable and capital-efficient model. Sebastien Guillaud, co-founder and managing partner, Shift4Good, applauded Routematic’s use of AI to solve real-world challenges in an otherwise fragmented industry.
Vasudha Madhavan, founder and CEO, Ostara Advisors, called the deal a landmark moment for India’s corporate mobility landscape. She emphasised Routematic’s role in reducing carbon emissions and setting a new standard for tech-led, sustainable commuting solutions.
