Bertelsmann India Investments led a $22 million investment round for Logistics startup LetsTransport. In addition, NB Ventures, ALES Global, CAC Capital, Stride Ventures, and Rebright Partners participated in the financing.
The capital is going to be used to reach financial success, expand neighboring business domains, and increase its presence in the market.
“We aspire to constantly build moats around our best customers both enterprises and truckers. We believe ourselves to be an enablement layer by creating products which becomes a bridge between the India’s vision of making logistics competitive and stakeholders proactively looking for upgradation,” said Pushkar Singh, cofounder and CEO of LetsTransport.
LetsTransport works across industry sectors like organized retail, FMCG and e-commerce, distribution, and 3PL companies. Some of its clients include Amazon, Flipkart, Bisleri, Vishal Mega Mart, Future Supply Chain, Coca-Cola, Delhivery, and Udaan.
Rohit Sood, Partner, Bertelsmann India Investments commented, “We are delighted to double down on our investment in Lets Transport. We remain convinced of the market potential.”
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The company offers customized logistics solutions for clients, along with other value-added services such as screened drivers, audited and GPS-enabled vehicles, point-to-point billing, and status updates.
About LetsTransport
Founded in 2015 by Pushkar Singh, Sudarshan Ravi, and Ankit Parasher, LetsTransport is an enterprise urban logistics provider in India, with 100,000+ Light Commercial Vehicles on its platform.
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