Tech-logistics solution provider LetsTransport raised over Rs 55 Cr in Series B funding by allotting Series B1 Cumulative, Compulsorily Convertible Preference Shares (CCPS) at a nominal price of Rs 1 per share and a premium of Rs 13,001.65 per share to several entities.
LetsTransport aggregates light commercial vehicles for urban logistics and claims to have onboarded more than 55,000 truckers on its platform across 14 cities. LetsTransport works across industry sectors like organized retail, FMCG and ecommerce, distribution and 3PL (third-party logistics) companies. Some of its clients include Amazon, Flipkart, Bisleri, Vishal Mega Mart, Future Supply Chain, Coca-Cola, Delhivery, and Udaan.
The company also claims that it provides its customers with value-added services such as screened drivers, audited and GPS-enabled vehicles, point-to-point billing, status updates and 24×7 service & offers intra-city logistics solutions for everyday errands like shifting houses, buying furniture, electronics, etc.