Page 25 - ITLN March - April 2022 issue

On the fleet owner's side, they
focus on the mid to large ones like Om
Logistics and Express Roadways, which
are very large vehicle owners. But they
also have customers who have at least
more than 20 vehicles. The average fleet
size is 30-40 vehicles, but on the higher
side, it goes beyond 2,000 vehicles.
On the product side, there are three
functions primarily: planning, visibility
& analytics and fleet marketplace &
ancillary services. Fleetx is mostly
present in the visibility & analytics
segment.
On the manufacturing side, they are
primarily present in the first mile, line
haul and plant automation. Sharma
had already informed us that they are
not focusing on the last mile segment
as well as to go in the services/ancillary
platform play. They also have clients
like Ultratech, JK Cement, Dalmia
Bharat, CavinKare, Adani Wilmar,
Varun Beverages, Khanna Papers, Saint
Gobain and DTDC.
He expressed his excitement on the
fact that IndiaMart, one of the biggest
Indian B2B online marketplace, has
come forward to invest in the company
he co-founded. He said that they are Fleetx co-founders, (L-R) Vishal Misra, Parveen Kataria, Abhay Jeet Gupta, Udbhav Rai,
eager to learn and walk along with Vineet Sharma (sitting).
IndiaMart to a probable IPO in the next
three to four years. As an important focuses and he informed that 10 percent such as theft prevention and asset
stakeholder in the supply chain, Fleex of the product and engineering cost will utilization. "Supply chain visibility is a
wants to fit into the ecosystem created go to research and development. critical yet underserved problem faced
by IndiaMart and offer its solutions He is also planning a few by Indian enterprises and fleet owners.
to a larger set of fleet owners and geographical expansions in India as well FleetX has been able to validate and
manufacturers. as to countries in Africa, South East scale an innovative IoT and SaaS-based
He is planning to hire and attract Asia and some parts of the Middle East solution to this problem, and hundreds
many young engineers who will have where the technology penetration is still of enterprises and SMEs across various
the opportunity to learn from the growth low. So whoever wants visibility in their sectors are currently using their
of Fleetx by working on cutting edge supply chain, Fleetx is ready with rolled- product,” he said.
technologies as the company wants to up sleeves. Gagan Goyal, partner at
focus on its products and technology Fleetx helps fleet owners reduce IndiaQuotient, noted that Fleetx was
offering now. Vineet also wants to build operations costs and improve vehicle one of India Quotient's first few SaaS
his next leadership team and have more utilisation while for manufacturers it investments when we realized that
leaders in different functions. provides real-time visibility in the supply Indian businesses will begin to adopt the
Fleex is sitting on a very huge amount chain and solves challenges like cargo software. “From sales to fleet owners
of data they have collected from vehicles theft, improves delays & detention, (transport sector) in the beginning, they
and transporters regarding their driver safety, vendor collaboration etc have scaled the product to fit many
shipments and dispatches. Vineet said with the use of IoT (Internet of Things) industries such as FMCG, automotive,
that they have already identified three to and analytics. cement, iron & steel, and e-com etc.
four use cases on which they can build While announcing the investment, Today 70 percent of their revenue comes
industry-first solutions using machine Dinesh Agarwal, founder and MD of from mid to large customers. Logistics
learning and artificial intelligence. IndiaMART said that Fleetx has been & supply chain SaaS is a massive
Till now they were not focusing on the able to successfully develop and cross- market globally and Fleetx, growing
research and development side of it. sell solutions for various pain points felt more than 100 percent YoY, will soon
With the new funding, that is one of his by businesses across their supply chain, enter other SEA countries."

23
www.itln.in March - April 2022