LetsTransport

About LetsTransport

LetsTransport was established in 2015 by Pushkar Singh, Sudarshan Ravi, and Ankit Parasher, all alumni of IIT-Kharagpur. The idea for the company originated from Pushkar Singh's experience at ITC, where he identified significant inefficiencies in last-mile, intra-city logistics. Realizing the market's fragmentation and the potential for technology to organize the sector, the three founders came together to launch LetsTransport in Bengaluru. Sudarshan Ravi brought experience from his role as an Equity Strategist at J.P. Morgan, while Ankit Parasher had entrepreneurial experience from a previous grocery startup.

The company operates as a technology-driven, last-mile logistics platform connecting businesses with a network of truckers for intra-city deliveries. It serves a diverse B2B clientele, including sectors like e-commerce, organized retail, FMCG, and 3PL companies, with clients such as Amazon, Coca-Cola, Flipkart, and Nestlé. The business model is asset-light, aggregating light commercial vehicles to offer customized and on-demand logistics solutions. Revenue is generated through transactional per-delivery fees, determined by factors like distance and vehicle type, as well as subscription packages for high-volume enterprise clients. The company also provides value-added services like material handling, packaging, and cold chain logistics.

LetsTransport's core service is a technology platform that streamlines logistics operations. Key features include real-time vehicle tracking, route optimization, automated dispatch, and digital documentation, which help clients reduce logistics costs and improve efficiency. The platform provides businesses with a single point of contact for managing their delivery needs, eliminating the complexity of dealing with multiple vendors. For truckers, most of whom are individual owners, the platform offers increased earning potential by improving asset utilization and providing direct access to work with large enterprises through a simple application. The company has onboarded over 200,000 truckers and serves more than 200 enterprise clients across over 25 cities in India. The company has successfully raised significant capital to fuel its expansion, with a total funding of $92.6 million over 17 rounds, including a $22 million Series E round in April 2024.