Routal, formerly known as SmartMonkey, has successfully closed a €1 million funding round with contributions from Portuguese private equity firm H Capital and European initiative EIT Innoenergy. The investment will fuel Routal’s growth and its mission to minimize last-mile delivery complexities and enhance operational efficiency globally. Xavier Ruiz, Routal’s co-founder and CEO, emphasized the investment’s role in advancing their AI-driven route optimization solutions and reducing carbon footprints worldwide.
The fresh capital infusion is earmarked for expanding Routal’s presence in the Latin American market and further developing its product to introduce new features focused on integration improvements and advanced AI applications for last-mile logistics. Founded in 2015 by Xavier Ruiz, Routal reported a revenue of €400,000 in 2023 and operates in over 32 countries. The platform simplifies route planning, significantly reduces operational costs by 30%, and enhances delivery efficiency.
Routal’s innovative platform serves more than 1,000 companies, including major automotive manufacturers like Volkswagen and Mercedes Benz, and other prominent clients such as Quaker State and Marfrig. The company plans to reach €1 million in revenue in 2024, focusing on strengthening its market positions in Spain and Latin America, particularly Mexico, and exploring the U.S. market. This strategic funding is expected to solidify Routal’s position as a leader in AI-enhanced route management solutions.