LetsTransport reach Rs 400 Cr with latest infusion of Rs 56 Cr

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LetsTransport

LetsTransport, an endeavor centered coordinations commercial center for intra-urban areas conveyance, has raised around $7.6 million or Rs 56 crore from its current speculators in what seems, by all accounts, to be an all-encompassing Series B subsidizing round for the Bengaluru-based organization.

LetsTransport has dispensed 42,975 Series B1 CCPS at an issue cost of Rs 13,002.65 per offer to raise the aggregate, administrative filings show. Bertelsmann BV has contributed Rs 15 crore while Mitsui Sumitomo Insurance put in Rs 11.2 crore in the five-year-old firm.

Rebright Partners, Altes Global and DS Group have contributed the leftover. According to Fintrackr’s assessments, LetsTransaport will be esteemed at around $55 million or Rs 400 crore post this round.

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LetsTransport

Before this round, LetsTransport had raised around $20 million which incorporate $1.3 million as obligation in June 2020, $12 million Series B round in December 2018 and $6.8 million in Series An and seed round.

Glided by Pushkar Singh, Sudarshan Ravi and Ankit Parasher, LetsTransaport works on a resource light model and designates conveyance to an organization of accumulated trucks and empowers intra-city coordinations for huge endeavors, flexibly chain organizations and nearby retailers.

Right now present in 15 urban areas in India, the firm professes to have served 200 undertakings with the assistance of in excess of 55,000 enlisted transporters. Its customers incorporates Amazon, Coca-Cola, Flipkart, Udaan, Delhivery, Metro Cash and Carry, and Big Bazaar.

LetsTransport rivals Porter, Blowhorn and somewhat with Rivigo and Blackbuck.

Following the most recent capital implantation, Rebright has become the biggest investor in the organization with 14.58% stake. Mitsui has 3.9% holding while DS Group and Bertelsmann control 3.76% and 2.32% stake each. Altes Global has around 1.88% stake in the organization

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