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Business Standard
27-05-2025
- Business
- Business Standard
Fleetx raises ₹113 crore in Series C, aims for profitability and IPO
a software-as-a-service platform focused on digitising fleet and logistics operations using artificial intelligence (AI) and the Internet of Things (IoT), has raised ₹113 crore in a Series C funding round. The investment was led by existing backers IndiaMART Intermesh Ltd and BEENEXT's Accelerate Fund. The round, which includes a mix of primary and secondary investments, reflects continued investor confidence in growth trajectory and the broader market potential for logistics technology in India. The fresh capital will be used to advance product development and scale a more sustainable and predictable sales model aimed at mid-market and enterprise clients across India. With the new funding, aims to double its ARR (annual recurring revenue) and achieve profitability, positioning the company for a potential public listing within the next few years. 'This round gives us more than enough runway to become fully profitable within the next year and prepare the company for IPO readiness,' said Vineet Sharma, co-founder and CEO of Fleetx. 'As we sit on the huge logistics data points, we're in a unique position to leverage AI to tackle some of the most complex challenges in the sector. We will continue to invest aggressively in our product capabilities while building a durable, efficient business delivering measurable value to our customers.' Fleetx has experienced strong growth—four times since its last fundraise in early 2022. The company now supports over 2,000 businesses, including more than 100 large ACV enterprise accounts, across transportation, manufacturing, mining, FMCG, and cement sectors. Its marquee clientele includes industry leaders such as Ultratech Cement, Unilever, Adani Group, Godrej, Vedanta, Shree Cement, MP Birla Group, Maersk, Hindalco, Grasim, AM/NS India, Bisleri, Panasonic, and DTDC. The firm's AI-powered platform spans fleet management, trip intelligence, video telematics, fuel analytics, transport ERP, and transportation management system (TMS). This is enabling smarter, safer, and more efficient logistics across one of the country's most critical and underserved industries. 'Fleetx has consistently demonstrated strong product–market fit and disciplined execution in solving large-scale logistics challenges,' said Dinesh Agarwal, Founder and CEO of IndiaMART Intermesh Ltd. 'Their AI- and IoT-powered platform is becoming the operating system for physical movement of goods and therefore aligns perfectly with IndiaMART's vision of empowering businesses.' Hero Choudhary, Managing Partner at BEENEXT, added that Fleetx's capital-efficient growth and deep understanding of logistics tech set them apart. 'We've seen them mature into a well-rounded, metrics-driven business and are confident in their ability to build a durable SaaS company from India with global potential,' said Choudhary. 'We're excited to continue this strong partnership with them as they scale towards becoming a public company.'
Time of India
27-05-2025
- Business
- Time of India
Logistics SaaS startup Fleetx raises Rs 113 crore from Indiamart, Beenext
Gurugram-based logistics SaaS startup Fleetx has raised Rs 113 crore in a funding round led by existing investors Indiamart Intermesh and Beenext (through its Accelerate Fund). The round includes a mix of primary and secondary investments, the company said on Tuesday. Fleetx plans to use the fresh capital to accelerate product development and scale its sales engine, with a focus on mid-market and enterprise customers across India. 'This round gives us more than enough runway to become fully profitable within the next year and prepare the company for IPO readiness. As we sit on huge logistics data points, we're in a unique position to leverage AI to tackle some of the most complex challenges in the sector,' said Vineet Sharma, cofounder and CEO of Fleetx. Founded in 2017, Fleetx offers AI- and IoT-powered solutions across fleet management, trip intelligence, video telematics, fuel analytics, transport ERP, and transportation management systems (TMS). The company claims to have increased its annual recurring revenue (ARR) to over Rs 100 crore, marking a four-fold jump from its last fundraise in early 2022. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Fleetx currently serves more than 2,000 customers, including over 100 enterprise accounts such as Ultratech Cement , Unilever, Adani Group, Godrej, Vedanta , Maersk, and Hindalco . According to Tracxn, Fleetx raised $19.4 million at a post-money valuation of $75.6 million in 2022, with participation from IndiaQuotient, Beenext and Indiamart. 'Fleetx has consistently demonstrated a strong product–market fit and disciplined execution in solving large-scale logistics challenges. Their AI and IoT-powered platform is becoming the operating system for physical movement of goods and therefore aligns perfectly with Indiamart's vision of empowering businesses,' said Dinesh Agarwal, founder and CEO of Indiamart Intermesh Limited. The development is part of a broader trend in India's logistics-tech space, which has been attracting investor attention amid growing demand for automation, cost efficiency, and data-driven supply chain insights. Earlier this year, SoftBank-backed Netradyne, a fleet safety and video telematics firm, became India's first unicorn of 2025 after raising $90 million in an equity funding round led by Point72 Private Investments.
Time of India
30-04-2025
- Business
- Time of India
IndiaMART Q4 net profit rises 81% to Rs 181 crore; revenue grows 13%
New Delhi: IndiaMART InterMESH, on Tuesday, has reported a 13 per cent year-on-year growth in consolidated revenue from operations to Rs 355 crore for the quarter ended March 31, 2025 (Q4 FY25), driven by an improvement in realizations from paying suppliers. The company's net profit jumped 81 per cent to Rs 181 crore, with margins holding strong at 39 per cent, while consolidated EBITDA rose to Rs 131 crore, reflecting a 37 per cent margin for the quarter, according to a regulatory filing. The B2B marketplace also reported Rs 541 crore in customer collections, up 12 per cent YoY, and Rs 271 crore in cash flow from operations during the quarter. Deferred revenue stood at Rs 1,678 crore, a 17 per cent rise from the previous year, indicating strong future revenue visibility. The platform registered 27 million unique business enquiries in the quarter, a 10 per cent increase over the previous year. Supplier storefronts grew 6 per cent YoY to 8.4 million, while paying suppliers rose to 2.17 lakh, marking a net addition of 2,100 during the quarter. For the full fiscal year 2024–25, IndiaMART reported consolidated revenue from operations of Rs 1,388 crore, up 16 per cent YoY. Net profit stood at Rs 551 crore, a 65 per cent increase, while EBITDA rose 58 per cent to Rs 523 crore, with a margin of 38 per cent. The company's board has recommended a final dividend of Rs 30 per share and a special dividend of Rs 20 per share, aggregating to Rs 50 per share for FY25. Dinesh Agarwal, MD & CEO, IndiaMART, said, 'We are happy to close the financial year with continued growth in customers, revenue and cash flows while maintaining healthy margins in the business. Backed by a robust business model and a clear strategic vision, we are well positioned to capitalize on the rapid pace of digital adoption across the business landscape.'
Fashion Network
30-04-2025
- Business
- Fashion Network
Indiamart's Q4 net profit jumps 81 percent to Rs 181 crore
Online business-to-business (B2B) marketplace Indiamart Intermesh Ltd reported an 81 percent rise in net profit to Rs 181 crore ($21.3 million), as against Rs 97 crore in the year-ago quarter. The company's revenue for the quarter rose by 13 percent to Rs 355 crore, as against Rs 315 crore in the corresponding quarter of the previous fiscal year. For the full financial year, the company's revenue from operations stood at Rs 1,388 crore while its net profit for the year for Rs 551 crore. Commenting on the results, Dinesh Agarwal, CEO of Indiamart in a statement said, 'We are happy to close the financial year with continued growth in customers, revenue and cash flows while maintaining healthy margins in the business. We remain committed to delivering a high-quality and trusted user experience on our platform.' 'Backed by a robust business model and a clear strategic vision, we are well positioned to capitalize on the rapid pace of digital adoption across the business landscape. With consistent profitability and strong cash flows, we are continually strengthening our value proposition for stakeholders while driving sustainable long-term growth,' he added.
Business Standard
30-04-2025
- Business
- Business Standard
IndiaMART InterMESH gains after Q4 PAT climbs 81% YoY to Rs 181 cr; declares dividend of Rs 30/ sh
IndiaMART InterMESH advanced 1.95% to Rs 2,376.50 after the company's consolidated net profit jumped 81.3% to Rs 180.60 crore on 12.8% increase in revenue from operations to Rs 355.10 crore in Q4 FY25 over Q4 FY24. The revenues includes IndiaMART Standalone Revenue of Rs 336 crore and Busy Infotech Revenue of Rs 18 crore, registering a growth of 12% and 28% respectively on YoY basis. Collections from customer grew by 12% to Rs 541 crore for the quarter, primarily comprising of standalone collections of Rs 506 crore representing YoY growth of 9% and Busy Infotech Collection of Rs 33 crore. Profit before tax in Q4 FY25 stood at Rs 218.10 crore, up by 56.8% from Rs 139.10 crore in Q4 FY24. EBITDA stood at Rs 131 crore in Q4 FY25, up 48% YoY. EBITDA margin for the quarter stood at 37%. Deferred Revenue as on March 31, 2025 increased to Rs 1,678 crore representing a YoY growth of 17%. This primarily includes IndiaMART standalone deferred revenue of Rs 1,600 crore and Busy Infotech Deferred Revenue of Rs 72 crore. IndiaMART registered Unique business enquiries of 27 million in Q4FY25; representing a YoY growth of 10%. Supplier Storefronts grew to 8.4 million, an increase of 6% YoY and paying suppliers at the end of the quarter were 217K, representing net addition of 2.1K. Cash flow from operations for the quarter was Rs 271 crore. Cash and investments balance stood at Rs 2,885 crore as on 31 March 2025. Dinesh Agarwal, chief executive officer, said, We are happy to close the financial year with continued growth in customers, revenue and cash flows while maintaining healthy margins in the business. We remain committed to delivering a high-quality and trusted user experience on our platform. Backed by a robust business model and a clear strategic vision, we are well positioned to capitalize on the rapid pace of digital adoption across the business landscape. With consistent profitability and strong cash flows, we are continually strengthening our value proposition for stakeholders while driving sustainable long-term growth. Meanwhile, the companys board final dividend of Rs 30 per equity share and a special dividend of Rs 20 per equity share for FY25. The board has fixed Friday, June 6, 2025 as the record date for the said dividend. The dividend will be paid within 30 days from the date of declaration and approval of final dividend by the shareholders of the company. IndiaMART is India's largest online B2B marketplace for business products and services. It makes easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions.
