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

Truck assembly company LetsTransport announced that it has raised $25 million in a Series D funding round. The round was led by Bertelsmann India Investments. LetsTransport had raised $30 million cumulatively prior to this round.

The funds will be used to expand its market presence, accelerate the company’s journey to profitability, and enhance its already strong suite of logistics services.

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

Rohit Sood, Partner at Bertelsmann India Investments says, “We are delighted to invest an additional $20 million in our LetsTransport business. We believe that Lets Transport is on its way to becoming a leader in the Indian logistics landscape and in the future will be a major enabler for the adoption of EVs in the country. Such a significant investment By BII reinforces our strategic commitment to double our investments in our portfolio.”

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

The startup has quickly emerged as a major player in the logistics industry, leveraging technology to improve and streamline the delivery process. It counts majority of India’s leading companies across sectors among its clients.

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