LetsTransport raises Rs 10 cr from Stride Ventures

Logistics solution provider LetsTransport on Monday said it has raised Rs 10 crore from Stride Ventures.During the COVID-19 crisis, the company has raised a total of Rs 33 crore to strengthen its operational capabilities, it said. "Stride Ventures...invested Rs 10 crore in LetsTransport...

Logistics solution provider LetsTransport on Monday said it has raised Rs 10 crore from Stride Ventures. During the COVID-19 crisis, the company has raised a total of Rs 33 crore to strengthen its operational capabilities, it said.

"Stride Ventures...invested Rs 10 crore in LetsTransport... for fulfilling intra-city last-mile deliveries for enterprise customers," the company said in a statement. LetsTransport provides urban logistics solutions and deals in the light commercial vehicle segment, distance range up to 300 km, and is present in 15 cities with over 60,000 drivers, the company.

Pushkar Singh, co-founder & CEO of LetsTransport, said the company is expected to convert this crisis into an opportunity by maximizing the conversion of the unorganized sector into an organized one. "We are happy to get an opportunity to partner with Stride Ventures and leverage their prior experience in asset financing segment that will help us to further scale our business." Ishpreet Gandhi, managing partner of Stride Ventures, said, "We are excited about our partnership with LetsTransport and are fully committed to support the company and its vision going forward."