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LetsTransport
LetsTransport, an enterprise-level trucking aggregator, has raised $25 million in a new funding round led by Bertelsmann India Investments (BII), with participation from other undisclosed investors.
According to the company's statement, The fresh influx of funds will bolster its ability to broaden its market footprint, accelerating its journey towards profitability and augmenting its existing logistics services portfolio.
Founded in 2015 by Pushkar Singh, Sudarshan Ravi and Ankit Parasher, LetsTransport said it serves as a bridge between businesses and a fragmented network of truckers.
The company aims to revolutionize the highly fragmented, over $200 billion valued, logistics industry with the use of advanced data analytics and innovative algorithms.
LetsTransport's plug-and-play platform caters to various requirements across the last-mile, mid-mile, and electric vehicle (EV) spaces. The startup operates primarily in the retail, fast-moving consumer goods (FMCG), ecommerce, and supply chain sectors.
The startup has an elite client base which includes companies like Amazon, Flipkart, Bisleri, Vishal Mega Mart, Future Supply Chain, Coca-Cola, Delhivery, and Udaan.
“We believe that Lets Transport is on its way to becoming a leader in the Indian logistics landscape and in future, will be a key enabler for adoption of EVs in the country. This substantial investment by BII reinforces our strategic commitment to double down on our portfolio investment,” said Rohit Sood, partner at Bertelsmann India Investments.
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