Routematic Raises Rs 340 Cr in Series C Funding Led by Fullerton Carbon Action Fund and Shift4Good

Routematic, a Corporate Transport-as-a-Service provider specializing in AI-powered commute solutions, has raised Rs 340 crore in a Series C funding round led by Fullerton Carbon Action Fund and Shift4Good. Ostara Advisors acted as the exclusive financial advisor for the transaction.

Founded in 2013, the Bengaluru-based company operates in over 23 Indian cities and serves more than 300 enterprises, providing over five million monthly employee trips. Routematic aims to expand its fleet to over 10,000 vehicles in five major cities by March 2026, targeting India’s growing $13.2 billion employee transportation market.

The company plans to use the funding to scale operations, establish city-level command centers for responsive fleet management, and convert 30% of its fleet to electric vehicles in line with corporate ESG goals.

Routematic’s platform automates transport operations through AI, optimizing route planning and dispatch, and reducing daily vehicle usage for enterprises. Co-founders Sriram Kannan and Kavitha Ramachandragowda said the investment would help the company strengthen its operational capabilities and expand its sustainable mobility initiatives.

Investors Fullerton and Shift4Good highlighted Routematic’s scalable technology platform and its role in accelerating decarbonization through fleet optimization and EV adoption.

Routematic previously raised $6 million from Blume Ventures, VAMM Ventures, and Bosch between 2015 and 2021. The company recently launched its third command center in Hyderabad and continues to align operations with green mobility goals.

The Fullerton Carbon Action Fund focuses on supporting mid-market businesses across Emerging Asia that contribute to decarbonization in sectors like energy, mobility, and the circular economy.