IndiaMart To Invest Rs 65 Crore In AI Logistics Firm Fleetx For 25.80% Stake
· Source: insights.dsij.in
In short
IndiaMart InterMESH Limited announced its plan to invest Rs 64.99 crore in Fleetx Technologies Private Limited, an AI-powered fleet and logistics optimisation platform, by subscribing to 4,630 compulsorily convertible preference shares (CCPS). The investment will give IndiaMart a 25.80% stake in Fleetx on a fully converted and diluted basis. Fleetx integrates data, IoT, and AI to digitise logistics operations, enhance efficiency, and reduce costs, and the acquisition aligns with IndiaMart's strategy to expand its SaaS portfolio for the B2B ecosystem.
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Tags: logistics, AI, fleet management, investment, SaaS, supply chain