Coretex raises $6M in funding round led by Milford Asset

Coretex raises $6M in funding round led by Milford Asset

By Jonathan Underhill

Aug. 24 (BusinessDesk) - Coretex, a fleet management software provider run by entrepreneur Selwyn Pellett, said it raised $6 million to help fund its growth in North America.

Existing shareholders including Milford Asset Management participated in the funding round. Milford initially invested $6 million last year after Coretex was formed from the merger of fleet management companies International Telematics Holdings and Imarda.

Pellett, who is chief executive and a director of the company, said its 'construction supply solutions' had "become the dominant force in both Australia and New Zealand and now is the right time to launch them into North America." The construction offer allows dispatchers to track ready-mix concrete and aggregate trucks to ensure efficient deliveries to construction sites.

(BusinessDesk)

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