India, May 7 -- Transport-as-a-Service solution provider Routematic has secured $40 Mn (INR 338.5 Cr) in a Series C funding round co-led by Fullerton Carbon Action Fund and Shift4Good.

Cofounder and chief executive Sriram Kannan told Inc42 that the newly raised capital will primarily help the startup scale its operations, while strengthening its presence in the existing markets.

The company also has plans to expand its fleet to over 10K vehicles across five cities, which includes Bengaluru, Pune, Delhi NCR, Chennai and Hyderabad, by March 2026.

"We are also setting up relay operation centers (ROCs), which refers to automatic operations command centers that centralises all operations in a city level, into a common area that is where we ...