Beenext, India Quotient lead $3.1 Mn pre-Series B spherical in Fleetx.io

SaaS-based fleet administration and predictive evaluation platform Fleetx.io has raised $3.1 million in a pre-Series B funding spherical from its current backers Beenext and India Quotient. Earlier, the Gurugram-based startup had raised $2.eight million as part of its Series A spherical led by Beenext.

Fleetx will deploy the contemporary funds for scaling in India and different markets, strengthening expertise and hiring expertise, the corporate stated in a press release.

Founded by Vineet Sharma, Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria, and Vishal Misra, Fleetx primarily gives a set of software-based merchandise to assist fleet homeowners and industries of all sizes to watch and optimise their day by day logistics operations leveraging synthetic intelligence, huge information and predictive analytics. 

With 4 flagship merchandise – Fleetx Pulse, Easy, Drive and Finance – it claims to have 50,000 autos and operators serving over 1250 shoppers similar to DTDC, UltraTech Cements, Saint Goban, BFC, amongst others.

Joining the development of early-stage startups who provide ESOPs to retain their workforce, Fleetx had additionally launched its plan in July 2020. Fintrackr’s estimate put the corporate’s ESOP pool worth at round Rs 5.2 crore at the moment. 

Sequoia-backed LocoNav serves direct competitors to Fleetx. 

In FY19, Fleetx had generated a web income from operations of Rs 1.31 crore with Rs 1.64 crore expenditure and a web lack of Rs 22.17 lakh. The financials for FY20 is but to be filed.

Around half a dozen SaaS startups have collectively raised over $250 million in 2020 which embrace Postman, Chargebee, Zeotap, Hevo Data, Squadstack and Fleetx. 

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