Bangalore, May 7, 2025: Routematic, India’s leading AI-driven Corporate Transport-as-a-Service company, providing full-stack corporate commute serving over 300 corporates across 23 cities in India, today announced that it has secured $40 million (INR 340 Cr) in Series C funding round led by Fullerton Carbon Action Fund and Shift4Good. Ostara Advisors, India’s leading Climate-tech Investment Banking firm, were the exclusive financial advisors to Routematic on this transaction.
Founded in 2013, Routematic has consistently been at the forefront of Enterprise mobility solutions, redefining corporate transportation with a blend of AI-driven technology delivering safe and predictable commute experience to over 300,000 employees, 5 Million trips in a month.
India’s employee transportation market is expected to reach $13.2 billion by 2030, driven by factors such as massive business growth in GCCs, focus on employee well-being, and sustainability. Routematic aims to capitalize on this momentum by scaling its corporate commute services, with plans to expand its fleet to over 10,000 vehicles across the top five cities by March 2026.
With its AI-powered SaaS platform already streamlining corporate transportation, Routematic’s next phase focuses on establishing city-level command centers. These hubs will enable demand-responsive fleet management at scale, enhancing the employee commute experience while significantly reducing transportation costs for enterprises. Routematic is also planning to convert 30% of its fleet into EVs to help its clients achieve ESG goals.
Sriram Kannan, Founder and CEO of Routematic expressed excitement on the funding: “We are grateful for our investors’ trust as we drive the future of corporate transportation. This investment will enable us to capitalize on the growing demand and further strengthen our leadership in sustainable corporate mobility.”
Kavitha Ramachandragowda, Co-Founder and Executive Director, Routematic said: “Our growth over the past few years has been fuelled by the dedication of our teams, the strength of our operations, and the unwavering trust of our customers, partners, and investors. Routematic has always believed in pushing boundaries, and this investment will enable us to scale new heights. We are committed to reimagining urban mobility with cutting-edge technology and sustainable practices. With AI at our core, we will continue to create safer, more efficient, and environmentally responsible commuting solutions that continue to empower our customers and stakeholders.”
Huck Khim Tan, Deputy CIO and Head of Alternatives at Fullerton Fund Management said: “Routematic is an established, market leading, profitable and fast-growing business within the transportation and urban mobility space in India, solving critical challenges and helping accelerate decarbonization through reduction in number of daily trips and adoption of electric vehicles. We believe Routematic has successfully scaled through a unique, capital-efficient, and services-driven business model, delivering automated solutions to a diverse customer base ranging from large enterprises to small businesses. We are excited to support Routematic in their next phase of growth. I am thankful to our team, especially Akhil Jain who has been working with Sriram and Kavitha to make this happen.
Sebastien Guillaud, Co-Founder and Managing Partner, Shift4Good said: “We’re backing Routematic because they’ve built what most players in this space only talk about — a truly intelligent, scalable platform. Their AI-driven engine automates demand-supply matching, dynamic routing, and dispatch in real time, unlocking massive operational efficiency and measurable ESG outcomes. In a sector that’s traditionally low-tech and fragmented, Sriram, Kavitha and their team are setting a new benchmark. We’re proud to support them as they accelerate growth and EV adoption across India.”
Vasudha Madhavan, Founder & CEO – Ostara Advisors: “Ostara Advisors is proud to have played a pivotal role in advising and securing funding for one of India’s most innovative companies in the corporate mobility space. By harnessing AI to optimize transportation efficiency at a city-level and significantly reduce the number of vehicles needed for daily trips, this breakthrough solution is not only accelerating decarbonization but also transforming a traditionally offline industry. It has been great to work with influential and leading global climate investors across Asia and Europe for this deal, which marks a game-changing moment in India’s corporate and employee transportation landscape, aligning technological innovation with sustainability and resource efficiency at scale”.
