In line with its mission to provide a seamless and satisfying last mile experience to its customers while sustaining its central promise of convenience, LetsTransport, a last mile logistics solutions provider, announced its expansion to Delhi NCR, Chennai and Trichy.
Letstransport is focused on building an efficient and reliable network in the intra city and regional logistics space. The team gathered market insights, and experimented its model while bootstrapping.
Post which the company raised USD 1.3 million seed investment from Rebright Partners and founders of TravelBoutiqueOnline.
The company after raising funds has built strong technology platform and a great team.
LetsTransport has grown 10 times since. They have build efficiencies using analytics into the system in a fashion which has enabled them to become profitable operationally in an extremely competitive market.
Speaking on the expansion, Pushkar Singh, Co-Founder and CEO, LetsTransport, said, "We aspired to achieve profitability before expansion. Based on our insights, we were able to create an efficient and a symbiotic profitable ecosystem. Once we had figured that out we set ourselves to expand into Delhi NCR and Chennai regions."
"Logistics is an industry which has over 900 small and medium distance corridors. We wanted to test our hypothesis on the potential of a tier 2 city, for which we ran a pilot in Trichy. We experienced an amazing response reiterating the potential of the sector not only in tier I but also in tier II cities. Owing to our value addition to the ecosystem, in a short span we have seen tremendous growth across the three cities. Our services will offer a compelling proposition to all businesses and consumers. We are confident on building a sustainable business in the USD 30 Billion market opportunity," added Pushkar.
The company also aims to further expand, in a phased manner in the existing markets of tier I and tier II cities in the next 12 months.
Efficient movement of goods across the supply chain at competitive rates needs innovation at two planes - operations and technology. This interplay of operations and technology will define the future of Indian Logistics which is set to evolve rapidly.
