LetsTransport raises $1.3mn from Rebright Partners

BENGALURU, INDIA: Bengaluru based techno-logistics start-up, Letstransport.in has raised $ 1.3 mn led by Singapore-based Japanese venture capital firm Rebright Partners.

Serial Entreprenuers Ankush Nijhawan, Gaurav Bhatnagar and Manish Dhingraalso participated in the round.

The company aims to streamline and revolutionize intra-city logistics. It offers a reliable, economical and one-of-a kind logistics experience for both at the convenience of click of a button.

“Services of LT not only benefit us monetarily but also enable us to focus on our core operations and relieve us of extraneous uncertainty. Sophisticated practices such as Just-in-Time now becoming common across industries, there is a dire need of a logistics partner to match such requirements & LT with its impressive team does exactly that.” said Amit, ITC

Pushkar Singh, co founder and CEO said, “During my tenure at ITC, I had spent hours chasing trucks which often did not report on time at the factory. This un-reliability and un-accountability had a cascading effect on the operations and was a major pain point. Adding to this, there were many trucking services that were desired but even the leading vendors didn’t provide them. Over the time, I noted that this big gap had only widend and the only way this could be bridged was through a technology enabled solution.”

“We wanted to be confident of our model and this industry, hence we had not raised funds externally initially. Now that both our clientsand our drivers have confidence in us; we believe the time is opportune and we are ready to scale-up. With Rebright Partners coming on board, we believe that they will guide us in building a great organization and time-sustained symbiotic relationship with our clients,” said Sudarshan Ravi, co-founder.

Takeshi Ebihara, Founder General Partner, Rebright Partner added, “We have explored similar markets in South East Asia & see immense potential in the on demand logistics market in India. The team has brilliant operational insights developed from grass-root level knowledge, which has enabled them to conceptualize a relevant global product having the ability to disrupt the logistics space.”