Logistics, a massively cluttered and scattered segment at the same time, has been gaining quite a traction among startups, resulting in number of companies offering their own platforms for faster logistics services. Lets Transport, one such startup with an online platform to book mini-trucks and related vehicles for good movement, has secured $1.3 Million in a fresh round led by Japanese VC firm Rebright Partners.
The round, along with Rebright, also saw investment coming in from a group of individual angel investors, Ankush Nijhawan, Gaurav Bhatnagar and Manish Dhingra.
We plan to use the newly raised funds to build our team, improve our technological infrastructure and expand into other cities.
says Pushkar Singh, CEO and Co-Founder of LetsTransport
Lets transport is principally a “Last mile” logistics solution provider. It offers a simple, clean UI to help you book trucks for your goods movement needs, by selecting a pick up and a drop off location. The firm offers customised booking options, suiting to individual needs.
All of Lets Transport’s vehicles are GPS-enabled, and hence can be tracked on every kilometre they cover. The platform also provides you personal status updates via text messages and e-mails to keep you aware of your shipment. All drivers and vehicles are audited and vetted and are hence verified.
The company currently claims to have a fleet of over 100 vehicles, who have taken over 3000 trips combined in the past month. The firm charges ₹350 for the first five kilometres and ₹25 for every additional kilometre from then on.
Lets Transport is currently available only in Bangalore, with planned expansion to Chennai through this new round.
While Lets Transport raises funding, other startups in the logistics field have also raised significant amount of funding over the past one year. Most notably, RoadRunnr just nabbed a massive $11 Million in a Series A round led by Sequoia, with Delhivery raising a staggering $85 Million earlier in a Series D round led by Tiger Global.
Other startups raising substantial funding in this segment, include Moovo (raised funding via YouWeCan Ventures), The Porter (raised $5.5 Million from KAE Capital) among others.
