Routematic, an AI-driven corporate transport service operating in 23 Indian cities, has secured $40 million in

led by

and

to expand its fleet and further develop its AI-powered platform. Founded in 2013, the company aims to capitalise on the growing

in India by scaling its services and converting a portion of its fleet to electric vehicles, with

acting as the exclusive financial advisors for this transaction.

Huck Khim Tan, Deputy CIO and Head of Alternatives at Fullerton Fund Management, said: “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. I am thankful to our team, especially Akhil Jain who has been working with Sriram and Kavitha to make this happen."

Future plans
The funding will support the establishment of city-level command centres to enhance fleet management and reduce transportation costs, reinforcing Routematic's commitment to efficient and environmentally responsible commuting solutions.

Routematic facilitates over 5 million trips each month for over 300,000 employees. It also plans to convert 30 per cent of its fleet to electric vehicles, which will help clients achieve their ESG goals.

“We’re backing Routematic because they’ve built what most players in this space only talk about — a truly intelligent, scalable platform. Their AI-driven engine automates demand-supply matching, dynamic routing, and dispatch in real time, unlocking massive operational efficiency and measurable ESG outcomes. In a sector that’s traditionally low-tech and fragmented, Sriram, Kavitha and their team are setting a new benchmark. We’re proud to support them as they accelerate growth and EV adoption across India,” explained Sebastien Guillaud, Co-Founder and Managing Partner of Shift4Good.

Vasudha Madhavan, Founder & CEO of Ostara Advisors, said: “Ostara Advisors is proud to have played a pivotal role in advising and securing funding for one of India's most innovative companies in the corporate mobility space. By harnessing AI to optimize transportation efficiency at a city-level and significantly reduce the number of vehicles needed for daily trips, this breakthrough solution is not only accelerating decarbonization but also transforming a traditionally offline industry.”