• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Tuesday, July 15, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Logistics Startup Fleetx.io raises $3 million in pre-series B

by Reshab Agarwal
October 14, 2020
in News, Startups
Reading Time: 2 mins read
0
Logistics Startup Fleetx.io raises $3 million in pre-series B
TwitterWhatsappLinkedin

With the rise in sales of e-commerce sites logistics business in India is also thriving. More and more startups are coming forward to provide efficient logistics management and services to companies. One such Company is Logistics Startup Fleetx.io that has recently raised $3 million in pre-series B round. The round was led by existing investors BEENEXT and India Quotient.

You might also like

Nintendo Switch Piracy Hub Nsw2u Taken Down in FBI Crackdown

France Investigates X Over Algorithm Changes Amid Fears of Foreign Interference

Tesla Slashes Model Y Price by $20,000 in Canada as Tariffs and Sales Woes Mount

About Logistics Startup Fleetx.io

Logistics Startup Fleetx.io
Image Source: YourStory

The startup was founded in 2015 by Vineet Sharma, Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria and Vishal Misra. Their company aims to provide logistic services with the use of Artificial Intelligence. Software-based products of the company help in very smooth operations and help improve efficiency. It also helps the company cut down the costs of logistics.

The company has around 1000 clients at present, and their company and services are growing at a swift pace of 20% a month. Vineet, CEO of the company also claims that they have grown by over 6 times between 2018 and 2019.

Thoughts on the funding received

Talking about the funding, Vineet Sharma, CEO and co-founder, Fleetx.io said, “We are already at the pre-Covid growth numbers and see a significant demand surge for software and digitisation shortly. We will utilise these funds to tap on post-covid digitisation opportunities by strengthening our product/tech even further and expand our presence in India and other markets.”

BEENEXT closes 2 new funds at 160mn USD with a primary focus on India &  Japan - BEENEXT

This is the 2nd investment of the company raised this year. In February they received another Rs 10 crores in a Series A round led by BEENEXT. Commenting on the investment made by the Singapore based company Managing director of BEENXT said, “Fleetx has built a product which is conquering vertical by vertical in what many perceive a crowded space. The team consistently delivers world-class SaaS key performance indicators.”

Future Prospects

Logistics business in India has a huge future ahead. According to Inc42 Plus, the logistic department has grown by around 226% between 2014-18 in terms of funding. Seeing the huge growth and the $215 billion market size of the department there is a huge scope for logistics startups like Fleetx.io to prosper. Reports also suggest that by the end of 2020 the employee count in the logistics sector will increase from 22 Million to 40 Million.


With the effect of the pandemic slowly fading away and a rise in online shopping, we might see a steep rise in the logistics business in India. What are your thoughts on the same? Do let us know in the comments below. Also, if you found our content informative do like and share it with your friends.

Also Read: TeaMonk secured Rs 6.5 Cr led by Inflection Point Ventures

Tweet54SendShare15
Previous Post

TeaMonk secured Rs 6.5 Cr led by Inflection Point Ventures

Next Post

Jio becomes the 1st telecom company to cross 400 Mn subs

Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

Recommended For You

Nintendo Switch Piracy Hub Nsw2u Taken Down in FBI Crackdown

by Harikrishnan A
July 15, 2025
0
Nintendo Switch Piracy Hub Nsw2u Taken Down in FBI Crackdown

A well-known website catering to Nintendo Switch piracy, Nsw2u, has been permanently taken offline following an investigation led by the FBI. The site, widely used for downloading illegal...

Read more

France Investigates X Over Algorithm Changes Amid Fears of Foreign Interference

by Harikrishnan A
July 15, 2025
0
European Union Commences Investigation into Social Media Firm X for Alleged DSA Violations

French authorities have opened a formal investigation into the social media platform X—formerly known as Twitter—amid allegations that its algorithm may have been manipulated to support foreign interference...

Read more

Tesla Slashes Model Y Price by $20,000 in Canada as Tariffs and Sales Woes Mount

by Harikrishnan A
July 15, 2025
0
Tesla Owner Burns Down Car and House After Plugging Directly Into Power Line

Tesla is in crisis management mode in Canada, cutting the price of its Model Y SUV by a staggering CAD $20,000 in an urgent attempt to recover from...

Read more
Next Post
Jio becomes the 1st telecom company to cross 400 Mn subs

Jio becomes the 1st telecom company to cross 400 Mn subs

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?