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The ESOP buyback has been rolled out to 45 eligible current and ex-employees, as part of the closure of Fleetx’s Series B funding led by IndiaMart, with existing investors India Quotient and BEENEXT also participating, according to a statement.
Fleetx.io, an intelligent freight visibility and fleet management platform, has announced that it has facilitated ESOPs for a significant number of its employees as part of the recent fund raise.
The liquidity transaction for the same has totalled approximately Rs 3.9 crore.
The ESOP buyback has been rolled out to 45 eligible current and ex-employees, as part of the closure of Fleetx’s Series B funding led by IndiaMart, with existing investors India Quotient and BEENEXT also participating, according to a statement.
Vineet Sharma, Co-Founder and CEO, Fleetx.io, said, “Fleetx’s growth is a reflection of our people and their contribution; it wouldn’t have been possible without our people to reach where we are today. ESOPs liquidity is our way to thank them for their continuous effort and the belief they have in us. We are a great believer of ESOPs and continue to create a culture of responsibility with rewards along with significant financial upside which can’t be achieved with just salary.”
“We are looking to double down on our product and technology and scale our GTM capabilities. While we continue to focus and scale in the Indian market, we are evaluating some of the geographies outside India as well. We believe that our product can compete globally even today, and it’s just about cracking the GTM with the right strategy and great people,” added Sharma.
Founded in 2017 by IIT, NIT and Purdue University graduates, Vineet Sharma and his co-founders Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria and Vishal Misra, Fleetx offers a suite of IoT and software-based products to help industries digitise their logistics operations and helps them improve safety, efficiency and sustainability of their vehicles and operations.