IndiaMART To Invest ₹65 Cr More In Fleetx, Raise Stake To 25.8%

Summary

B2B ecommerce platform IndiaMART InterMESH has entered into an agreement to invest about ₹65 Cr in fleet management startup Fleetx, increasing its stake in the portfolio company to 25.8%. Under the agreement, IndiaMART will subscribe to 4,630 CCPS of Fleetx for a total investment of about ₹65 Cr. The transaction is expected to be completed within the next 30 days. The company said the investment aligns with its long-term objective of expanding its portfolio of SaaS solutions for businesses.