Fleet management platform, Fleetx.io has raised US$ 19.4million (approximately ₹146 crore) in a funding round led by IndiaMart. Existing investors, IndiaQuotient and Beenext also participated in the funding round.

Lakshmikumaran & Sridharan (LKS) advised IndiaMart. The transaction team was led by Kunal Arora (Partner) along with his team including Gunmeher Juneja (Principal Associate), Nayanika Majumdar (Senior Associate), Archit Gupta (Associate), Pragya Pandey, (Associate), Akhil Kumar (Associate) and Narahari Pulikollu (Consultant).

J Sagar Associates were the legal advisors to the Company and the selling shareholders and the team was led by Partner Archana Tewary along with Senior Associate Aditi Aggarwal.

This deal marks expansion of IndiaMart’s portfolio into transportation visibility space which is witnessing an accelerated growth in an otherwise highly non-digitized logistics industry

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