MoveInSync Technology, a Bengaluru-based employee-transportation startup has managed to raise funds to the tune of $15 million in a Series C funding round. The investor is Bessemer Venture Partners, which will help the startup add more electric vehicles to its fleet and expand its business.
The startup is also looking at enhancing its security features to be able to cater to its growing customer base in the manufacturing space, comprising more women.
The MoveInSync platform offers fleet, operations and technology support to help organisations fulfil their employees’ transportation needs in a cost-effective manner.
The platform also runs MoveInSync Ion, which revolves around a Software as a Service (SaaS) operational model, to help current fleets make use of the commute platform.
MoveInSync—which was co-founded by Deepesh Agarwal, who is the CEO presently—hopes to expand the business into foreign markets, including South Africa, Philippines and the Middle East.
The platform was launched in 2009 by Agarwal and Akash Maheshwari, who are both alumni of IIT BHU with the objective of offering a range of employee- commute solutions to firms across various sectors, including information technology.
In the financial year 2023, MoveInSync has reported revenues to the tune of Rs 500 crore. It reportedly hopes to achieve revenues of Rs 1,500 to Rs 1,800 crore by 2027.
Into its fourteenth year of service now, MoveInSync is keen to go for an IPO over the next three years.
