India, July 27 -- B2B ecommerce platform IndiaMART InterMESH has entered into an agreement to invest about Rs.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 Rs.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.

Founded in 2017 by Vineet Sharma, Abhay Jeet Gupta, Vishal Misra, Parveen Kataria, and Udbhav Rai, Fleetx offers AI-powered fleet and logistics management software that enables businesses to track vehicles in real time, monitor...