by Bengaluru, India – July 15, 2023 – LetsTransport, an EV aggregator that provides last-mile and mid-mile logistics services, has raised $25 million in a funding round led by Bertelsmann India Investments (BII). The round also saw participation from existing investors such as Blume Ventures and Sequoia Capital India.
The fresh capital will be used to expand LetsTransport’s market presence in India and to develop new products and services. The company plans to use the funds to add more vehicles to its fleet, expand its team, and enter new markets.
LetsTransport was founded in 2016 by Pushkar Singh and Siddharth Dialani. The company provides a platform for businesses to book electric vehicles for last-mile and mid-mile logistics. LetsTransport’s platform matches businesses with drivers who have electric vehicles. The company also provides a range of services, such as fleet management and vehicle maintenance.
LetsTransport has over 10,000 vehicles on its platform and serves over 1,000 customers. The company has raised a total of $55 million to date.
“We are excited to partner with BII and other investors to accelerate our growth,” said Pushkar Singh, co-founder and CEO of LetsTransport. “This investment will help us to expand our market presence, develop new products and services, and create a more sustainable logistics ecosystem.”
About LetsTransport
LetsTransport is an EV aggregator that provides last-mile and mid-mile logistics services. The company was founded in 2016 by Pushkar Singh and Siddharth Dialani. LetsTransport has over 10,000 vehicles on its platform and serves over 1,000 customers. The company has raised a total of $55 million to date.
About Bertelsmann India Investments
Bertelsmann India Investments (BII) is the investment arm of Bertelsmann, a global media, services, and education company. BII invests in early-stage and growth-stage companies in India with the potential to become leading businesses in their sectors. BII has a strong track record of investing in Indian companies, and has invested in over 100 companies to date.
