LetsTransport, a leading trucking aggregator for enterprises, has secured $22 million in its Series E funding round, which Bertelsmann India Investments led. Rebright Partners, NB Ventures, ALES Global, Stride Ventures, CAC Capital, and other investors participated in the round.
This latest funding follows the company’s $25 million raise in July last year, bringing the total to $77 million.
According to a press release from the company, LetsTransport aims to utilize the fresh capital to expand its market presence, scale adjacent business verticals, and work towards profitability.
Founded by Pushkar Singh, LetsTransport offers a plug-and-play platform that provides clients multiple assets across various use cases in the last-mile, mid-mile, and EV space. The platform ensures reliable delivery for brands while enhancing earnings for truckers. It boasts a clientele comprising most of India’s blue-chip enterprises across different sectors.
With over 200,000 registered truckers and over 200 blue-chip clients across 25 cities, LetsTransport aims to digitize and disrupt the highly fragmented $200 billion logistics industry.
The company is also launching products to cater to the ancillary needs of truckers. It claims to be already profitable at a city EBITDA level and anticipates achieving profit after tax break even by 2025 with this latest funding.
LetsTransport faces competition from industry players like Delhivery, BlackBuck, and Rivigo.
