LetsTransport bags $22 million in funding round led by Bertelsmann

economictimes.indiatimes.com:

startup LetsTransport has raised $22 million in a funding round led by Bertelsmann India Investments. The round also saw participation from Rebright Partners, NB Ventures, ALES Global, Stride Ventures, CAC Capital and others. The funds will be used for expanding market presence, scale adjacent business verticals and to achieve profitability.

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Founded in 2015 by Pushkar Singh, Sudarshan Ravi, and Ankit Parasher, the platform links businesses with fragmented truckers and providing transportation solutions. It offers its clients a range of assets across use cases in last-mile, mid-mile, and electrical vehicle (EV) space.

According to the company it has over 200,000 registered truckers and more than 200 blue-chip clients in over 25 cities

“We aspire to constantly build moats around our best customers both enterprises and truckers. We believe ourselves to be an enablement layer by creating products which becomes a bridge between the India’s vision of making logistics competitive and stakeholders proactively looking for upgradation,” said cofounder and chief executive Pushkar Singh.

The Bengaluru-based startup is currently profitable at the city earnings before interest, taxes, depreciation, and amortization (Ebitda) level and aims to achieve profit after tax (PAT) breakeven by 2025, the company said.

“Our focus remains on creating value for our stakeholders and driving positive change in the logistics ecosystem,” said cofounder and