Singapore-based Fullerton Fund Management has acquired an equity stake in Routematic, an AI-powered corporate transport company in India. The investment is its first under the Fullerton Carbon Action Fund ( FCAF ).

Routematic operates a full-stack corporate Transport-as-a-Service ( TaaS ) platform, serving over 300 clients across 23 Indian cities. The company facilitates over 5 million trips per month, utilizing AI to optimize routes, reduce fuel consumption, and integrate electric vehicle fleets.

“This investment is a compelling fit for our decarbonization mandate,” says Akhil Jain, director of alternatives at Fullerton. “Routematic’s AI-led platform and capital-efficient model directly address urban transport emissions, a major source of pollution in India. With the market’s rapid growth, driven by corporate demand for safe, sustainable mobility, this partnership will help scale Routematic’s reach and impact.”

The firm’s commitment to decarbonization, through optimization of daily trips and fleet electrification, aligns perfectly with the fund’s focus areas, Jain adds.

The FCAF focuses on mid-market, scalable, cash-generative companies across Southeast Asia and India that are actively pursuing climate-positive strategies. The fund avoids early-stage ventures, instead backing businesses with proven models in sectors such as mobility, industrials, energy, and circular economy.

Fullerton says the fund is evaluating several other deals across the region, and expects to close additional investments by year-end. Complementing its capital investment, the fund also provides strategic support in areas like M&A, geographic expansion, and sustainability implementation.