Routematic raises $40 million in Series C funding led by Fullerton Carbon and Shift4Good

Founders Sriram Kannan and Kavitha Ramachandragowda,

AI-powered corporate transport platform Routematic has secured $40 million in Series C funding, during a round led by Fullerton Carbon Action Fund and Shift4Good, underscoring a rising investor interest in AI-driven solutions.

The latest funding will support Routematic’s plans to develop AI-led, sustainable transportation solutions for India Inc, the company said on May 8.

Founded in 2013 by Sriram Kannan and Kavitha Ramachandragowda, Routematic provides full-stack corporate commute solutions to over 300 companies across 23 cities in India.

The company claims to be facilitating over five million trips monthly, serving around 3 lakh employees. The funds will expand Routematic’s fleet to more than 10,000 vehicles in India’s top five cities by March 2026, establish city-level command centers, and scale its electric vehicle adoption to cover 30% of its fleet.

The company said its AI-powered SaaS platform supports demand-responsive fleet management, aiming to reduce transportation costs for enterprises while enhancing employee commute experiences.

“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," said Sriram Kannan, Founder and CEO of Routematic.

India’s employee transportation market is projected to reach $13.2 billion by 2030, driven by growth in global capability centers (GCCs), employee well-being initiatives, and climate-conscious transportation strategies, said the company.

Routematic had previously raised $6 million in funding rounds led by Blume Ventures, VAMM Ventures, and Bosch between 2015 and 2021. The company operates command centers in Bengaluru, Pune, and Hyderabad.

“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," Huck Khim Tan, Deputy CIO and Head of Alternatives at Fullerton Fund Management.