Bosch invests Rs 14.8 Cr in Routematic
Bosch has invested Rs 148 Mn in Bengaluru-based B2B SaaS platform Routematic, according to a BSE filing. The filing said, Investment in Nivaata Systems Private Limited up to 7.14% of the Capital on fully diluted basis, aggregating to an amount not exceeding Rs 148 Mn.
Routematic started as a transport automation solution provider. The platform operates on a SaaS model and offers cloud-based location tracking and vehicle management solutions to corporates.
Routematic is present in 16 cities and has over 80 customers. In 2019, Routematic powered over 1 million trips and the platform had 1.5 lakh users. Recently Routematic expanded its offerings to provide tech-enabled transport and social distancing solutions for the manufacturing industry. The startup doesn’t own any assets, and is only an aggregation platform.