Trucking aggregator LetsTransport raises $25 mn in Series D funding round

Trucking aggregator LetsTransport announced it has raised $25 million in a Series D funding round. This round was led by Bertelsmann India Investments. LetsTransport had raised $30M cumulatively before this round.

The funds will be used for expanding its market presence, accelerating the company's journey to profitability, and enhancing its already robust suite of logistics services.

The company claims to be one of the largest aggregators of commercial EVs in India.

Rohit Sood, Partner, Bertelsmann India Investments says, “We are happy to invest additional $20 million to our portfolio company, LetsTransport. 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 investments.”

Pushkar Singh, CEO & Co Founder, expressed his excitement about the partnership, stating, " This latest funding round not only fuels our growth, but also reaffirms our shared vision of transforming the logistics industry. Globally, through its division Arvato, Bertelsmann is a major player in the supply chain industry, making them ideal long-term partners for us. Together, we are committed to shaping the future of logistics and empowering businesses to thrive in a seamless and efficient ecosystem."

The startup has rapidly emerged as a key player in the logistics industry, leveraging technology to optimize and streamline the delivery process. It counts the majority of India’s blue-chip enterprises across sectors among its clients.

 LetsTransport’s ability to scale comes from its asset-light model and trucker-focussed technology. Their innovative platform connects businesses and fragmented truckers, providing reliable and cost-effective transportation solutions. By using data analytics and cutting-edge algorithms, LetsTransport ensures that goods reach their destination on time.