Truck aggregator startup LetsTransport has raised $22 million in a funding round led by Bertelsmann India Investments, according to the ETtech report.
The round also saw participation from Rebright Partners, NB Ventures, ALES Global, Stride Ventures, CAC Capital and others.
The funds will be used for expanding market presence, scale adjacent business verticals and to achieve profitability, a statement said.
Founded in 2015 by Pushkar Singh, Sudarshan Ravi, and Ankit Parasher, the platform links businesses with fragmented truckers and providing transportation solutions. It offers its clients a range of assets across use cases in last-mile, mid-mile, and electrical vehicle (EV) space.
“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 cofounder and chief executive Pushkar Singh.
“Our focus remains on creating value for our stakeholders and driving positive change in the logistics ecosystem,” said cofounder and chief operating officer Prateek Pujari.
Commenting on the investment Rohit Sood, Partner, Bertelsmann India Investments that first invested in the company in 2018 said, “We are delighted to double down on our investment in Lets Transport. We remain convinced of the market potential.”
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