Routematic Raises $40 Million in Series C Round Led by Fullerton, Shift4Good
Routematic, a corporate commute platform operating across 23 Indian cities, has secured $40 million in a Series C funding round led by Fullerton Carbon Action Fund and Shift4Good. Notably, Ostara Advisors acted as the exclusive financial advisor for the transaction. Founded in 2013, Routematic serves over 300 corporate clients and manages over five million monthly trips for around 3 lakh employees. The company plans to expand its fleet to over 10,000 vehicles in India’s top five cities by March 2026. It is also planning to convert 30% of its fleet to electric vehicles. “This investment will enable us to capitalise on the growing demand and further strengthen our leadership in sustainable corporate mobility,” Sriram Kannan, founder and CEO of Routematic, said. India’s employee transportation market is projected to reach $13.2 billion by 2030, driven by the expansion of global capability centres (GCCs), emphasis on employee well-being, and sustainability mandates. Routematic intends to use the funding to scale its AI-powered operations, including setting up city-level command centres for demand-responsive fleet management. Kavitha Ramachandragowda, co-founder and executive director at Routematic, said, “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.” At the same time, Huck Khim Tan, deputy CIO and head of alternatives at Fullerton Fund Management, stated, “Routematic is solving critical challenges and helping accelerate decarbonisation 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.” Sebastien Guillaud, co-founder and managing partner at Shift4Good, added, “Their AI-driven engine automates demand-supply matching, dynamic routing, and dispatch in real time, unlocking operational efficiency and measurable ESG outcomes.” Meanwhile, Vasudha Madhavan, founder and CEO of Ostara Advisors, called the deal “a game-changing moment in India’s corporate and employee transportation landscape”, citing its alignment with decarbonisation and resource efficiency goals. Routematic’s platform continues to evolve toward real-time, AI-led transport solutions for enterprise clients, amid growing demand for sustainable urban mobility in India.
The company plans to expand its fleet to over 10,000 vehicles in India’s top five cities by March 2026.
Routematic, a corporate commute platform operating across 23 Indian cities, has secured $40 million in a Series C funding round led by Fullerton Carbon Action Fund and Shift4Good. Notably, Ostara Advisors acted as the exclusive financial advisor for the transaction.
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Siddharth is a media graduate who loves to explore tech through journalism and putting forward ideas worth pondering about in the era of artificial intelligence.