The company, started in 2015, had previously raised a seed round of Rs. 8 crore from Singapore-based Rebright Partners and others in August 2015.
The LetsTransport platform provides inter-city aggregation of mini trucks and a few large vehicles across industry sectors like retail, FMCG and ecommerce to meet the elasticity in the demand for fleet.
The company has presence in seven cities and recently started operations in Vijayawada and Tiruchirapalli.
“Our technology platform currently has over 5,000 registered trucks. With the current round of capital, we will be building a data sciences team to improve product feature for us and our clients. We have already started hiring for the team from banks and other industries,” said Pushkar Singh, who co-founded the firm with his batchmates from IIT Kharagpur, Ankit Parasher and Sudarshan Ravi.
He added that LetsTransport platform lets the partner businesses save 20% of their costs by matching the supply and demand for the vehicles and the data sciences team will work on further optimising the process.
Source: ET Tech