IndiaMART Accelerates Digital Logistics, Buys Stake in Fleetx’s Fast Lane

IndiaMART InterMESH Ltd, India’s leading B2B marketplace, announced today its decision to subscribe to 2,921 compulsorily convertible preference shares amounting to Rs. 41 crores of Fleetx Technologies Private Limited, an AI-powered fleet and logistics optimization platform, which is a related party, being an Associate Company. This move of IndiaMART of acquiring 22.5% stake in the target company, shall be in line with the Company’s 

long-term objective of offering various Software as a Service (SAAS) based solutions for businesses.

 

Fleetx leverages data, IoT, and artificial intelligence to offer real-time visibility, improved asset utilization, and enhanced operational efficiency for businesses managing fleets and logistics. The platform addresses critical challenges such as theft prevention, fuel savings, and vendor performance, making it a vital tool for companies aiming to digitize and optimize their logistics networks.

 

This investment aligns with IndiaMART’s strategy to back innovative SaaS solutions that address the evolving needs of Indian businesses and logistics operators. The subscription to Fleetx’s preference shares is expected to further deepen the partnership between the two companies, enabling Fleetx to accelerate its product development, talent acquisition, and go-to-market initiatives.

 

IndiaMART’s continued support signals confidence in Fleetx’s growth trajectory and its mission to revolutionize logistics and transportation through technology.

 

Source: Reuters