LetsTransport raised Rs 13 crore from InnoVen Capital in the latest investment. The company is a marketplace for last mile deliveries. It enhances the urban logistics industry with its high-tech system that facilitates inter city transport. The enterprises can book light commercial trucks for a distance range of 100-200 kms.
The company’s major focus is to grow its network and capabilities and provide organized logistics solutions. Due to Covid-19, multiple firms are shifting to tech-enabled organized industries as the supply chains have started to follow D2C model.
LetsTransport is currently operating in 15 cities and has a supply of over 58K drivers. InnoVen Capital CEO Ashish Sharma told that they appreciate the kind of business LetsTransport has built in a capital efficient manner. The investors trust the capabilities of the company and believe that they will transform the way logistics industry functions.
In addition, the LetsTransport offers additional features such as including screened drivers, point-to-point billing, audited and GPS-enabled vehicles, status updates and round-the-clock services and greater efficiency in an economical pricing model.
InnoVen Capital has so far, completed more than 250 transactions with above 180 startups, including BYJU’S, DailyHunt, Swiggy, Oyo Rooms, CureFit, Eruditus and FirstCry.