India based mobility startup Routematic has raised $2 million from BOSCH at the valuation of $28 million.
Routematic in its issued statement said, “The company plans to use the funding to expand the company’s portfolio of mobility use cases and geographic presence.”
Speaking on the investment, Surajit Das, CEO of Routematic said, “We are tremendously proud of what we have accomplished so far. It is our privilege to bring BOSCH on board as an investor and strategic partner. As we continue innovating and solving for mobility. Routematic will play a central role in determining how big cities handle problems like traffic congestion and envision mental issues. This partnership will enable us to build mobility products that are safe, efficient, and sustainable.”
“At a time when mobility at large is struggling to make a comeback in the post lockdown world, this investment is testament to the fact that we are headed in the right direction. It is a good validation of our hypothesis that urban mobility should be solved using multi-form supply designed around demand from office commuters and then building out for other use cases. The Routematic-BOSCH partnership will generate a lot of synergies and accelerate mobility innovations,” he added.
