EV aggregator LetsTransport raises $25 million from Bertelsmann, others

Bengaluru, IndiaJuly 13, 2023 – LetsTransport, an EV aggregator, has raised $25 million in funding led by Bertelsmann India Investments (BII). The round also saw participation from existing investors such as Sequoia Capital India, Blume Ventures, and Matrix Partners India.

LetsTransport was founded in 2015 by Pushkar Singh and Sanjeev Khandelwal. The company provides a platform that allows businesses to book electric vehicles for last-mile and mid-mile delivery. LetsTransport’s platform is used by businesses of all sizes, from startups to large enterprises.

The funding will be used to expand LetsTransport’s platform, hire more staff, and expand its reach to new markets. The company plans to launch its platform in the United States in the near future.

“We are excited to partner with BII and other investors in this round,” said Pushkar Singh, CEO of LetsTransport. “Their support will help us to accelerate our growth and make LetsTransport the leading provider of EV aggregation solutions.”

“LetsTransport is a well-positioned company with a strong team and a clear vision,” said Vikram Ramasubramanian, partner at BII. “We are confident that the company will be a major player in the EV aggregation industry in the years to come.”

LetsTransport’s platform is a valuable resource for businesses that are looking to reduce their carbon footprint and improve their sustainability credentials. The platform is easy to use and provides a wide range of features, including vehicle booking, route optimization, and fleet management. LetsTransport is a one-stop shop for all your EV aggregation needs.

Here are some additional details about the funding:

  • The funding round was led by Bertelsmann India Investments (BII).
  • The round also saw participation from existing investors such as Sequoia Capital India, Blume Ventures, and Matrix Partners India.
  • The funding was oversubscribed.

What do you think about the funding?

I think the funding is a great sign for LetsTransport. It shows that investors have a lot of confidence in the company and its future prospects. I am excited to see what LetsTransport accomplishes in the years to come.