24th April 2024 – In its Series E fundraising round, LetsTransport, a transportation aggregator for businesses, received $22 million under the direction of Bertelsmann India Investments. Participating in the financing were NB Ventures, CAC Capital, ALES Global, Stride Ventures, and Rebright Partners, among others.
LetsTransport was founded by Pushkar Singh and offers its customers a variety of assets for use cases in the last-mile, mid-mile, and electric vehicle (EV) spaces thanks to its plug and play platform. For brands, the platform guarantees dependable delivery, and its drivers continuously earn more money. Its clientele includes most of India’s blue-chip companies in several industries.
LetsTransport states that it has over 200 blue-chip customers spread across 25 locations, and over 200,000 registered trucks. The $200 billion logistics sector is immensely fragmented, and the startup wants to disrupt it by digitizing it.
Conclusion
Additionally, LetsTransport is introducing goods to support truckers with their auxiliary requirements. According to the firm, it is already profitable at the city EBITDA level and, with this increase, it will be on course to reach break-even point for profit after taxes by 2025.
Source:Link