LetsTransport raises Rs 10 cr from Stride Ventures

"In a bid to help streamline urban logistics for enterprises in these trying times, we are constantly scaling up our operations and network by enhancing our capabilities," LetsTransport co-founder and CEO Pushkar Singh said. He added that enterprise businesses are increasingly looking to partner with organised logistics players to facilitate direct to consumer deliveries.

LetsTransport, a marketplace for fulfilling intra-city last mile deliveries, on Monday said it has raised Rs 10 crore in funding from Stride Ventures. "The fund intends to be a strategic partner in LetsTransport's journey with their customized offerings and deep relationships across banks and corporates," a statement said.

During the COVID-19 crisis, the company has raised a total of Rs 33 crore. Earlier this month, it had announced raising Rs 10 crore from Blacksoil Capital. LetsTransport provides urban logistics solutions to enterprises by offering tech-enabled intra-regional transportation services. It enables enterprise clients to book light commercial trucks and manage bookings for distances of up to 300 km.

The company has a presence in 15 cities in India and has a registered trucker supply of over 60,000 drivers. "In a bid to help streamline urban logistics for enterprises in these trying times, we are constantly scaling up our operations and network by enhancing our capabilities," LetsTransport co-founder and CEO Pushkar Singh said.

He added that enterprise businesses are increasingly looking to partner with organised logistics players to facilitate direct to consumer deliveries. "LetsTransport is driven to convert this pandemic into an opportunity by maximising the conversion of the unorganised sector into an organised one," he said.

Singh added that the company will leverage Stride Ventures' prior experience in asset financing segment to further scale its business. "While the sector has been adversely impacted by the lockdown, LetsTransport's robust business and operating model have helped them navigate through these challenging times," Stride Ventures Managing Partner Ishpreet Gandhi said.

Amazon, Flipkart, Bisleri, Vishal Mega Mart, Future Supply Chain, Coca-Cola, Delhivery and Udaan are among the clients of LetsTransport..