LetsTransport, a ‘last mile’ techno-logistics solution provider has raised $1.3 million led by Japanese venture capital firm Rebright Partners. Serial Entreprenuers Ankush Nijhawan, Gaurav Bhatnagar and Manish Dhingra also participated in the round. The company plans to use the new funds to build its team, improve its technological infrastructure and expand in to other cities. In May, the company has announced the acquisition of Shifter, another startup in the same space, to optimise its growing customer base and its fleet of transport and delivery vehicles in organised logistics.
Founded in early 2015, LetsTransport is a venture of three IIT graduates Pushkar Singh (ex ITC), Sudarshan Ravi (ex JP Morgan) and Ankit Parasher (ex CA Technologies). It is a last-mile logistics provider that aims to streamline intra-city logistics. Its services include screened drivers, audited vehicles, transparent pricing and point-to-point billing. The company aims to cater to a wide range of transport logistics requirements in the industry, ranging from large scale commercial requirements to more routine household transport requirements.
All vehicles of Lets Transport’s are GPS-enabled, and hence can be tracked on every kilometre they cover. The platform also provides personal status updates to users via text messages and e-mails to keep them aware of their shipment. The firm offer customized booking options, and help users for their goods movement needs, by selecting a pick up and a drop off location.
Other startups in the logistics field have also raised significant amount of funding over the past one year. RoadRunnr just closed a funding of $11 million in a series A round led by Sequoia, and Delhivery received a series D round of $85 million led by Tiger Global Management.