LetsTransport receives $25-m investment from Bertelsmann, others
Summary
The governments ambition to reduce logistics cost down to 7-8 per cent of GDP, and enterprises moving towards organising their supply chains through higher technology adoption and increasing traceability are all factors that play in LetsTransports favor. BII remains steadfast in its commitment to support portfolio companies growth journeys, it said in its statement.Founded in 2015, LetsTransport aims to digitise and disrupt the highly fragmented $200 billion+ logistics industry by leveraging technology and helping enterprises to reach consumers faster. LetsTransport has over 200,000 registered truckers and over 200 blue chip clients across 25 cities.The investment will be instrumental in expanding its market presence, accelerating the companys journey to profitability, and enhancing its already robust suite of logistics services.We are immensely grateful to Bertelsmann for being a great partner for all these years and for the conviction shown in our mission through this recent investment. Globally, through its division Arvato, Bertelsmann is a major player in the supply chain industry, making them ideal long-term partners for us. Together, we are committed to shaping the future of logistics and empowering businesses to thrive in a seamless and efficient ecosystem, said Pushkar Singh, CEO & co-founder, LetsTransport.