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LetsTransport bags $22 million in funding round led by Bertelsmann
Economic Times
·
1y ago
Medial
Indian truck aggregator startup LetsTransport has secured $22 million in a funding round led by Bertelsmann India Investments. Other participants in the round include Rebright Partners, NB Ventures, ALES Global, Stride Ventures, and CAC Capital. LetsTransport plans to use the funds to expand its market presence, scale adjacent business verticals, and achieve profitability. The startup, founded in 2015, connects businesses with truck drivers to provide transportation solutions. It currently has over 200,000 registered truckers and more than 200 blue-chip clients in over 25 cities. LetsTransport aims to achieve profit after tax breakeven by 2025.
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LetsTransport Nets $22 Mn To Fuel Its Logistics Solutions Offerings
Inc42
·
1y ago
Medial
Bengaluru-based trucking aggregator startup LetsTransport has raised $22 million in a Series E funding round led by existing investor Bertelsmann India Investments. Other investors included Rebright Partners, NB Ventures, ALES Global, Stride Ventures, and CAC Capital. LetsTransport plans to use the funding to expand its market presence and accelerate its growth goals of aggregating India's fragmented truckers. The company offers last-mile tech-logistics solutions for intra-state deliveries and counts Flipkart, Coca-Cola, and Amazon among its clients. In the previous funding round, LetsTransport raised $25 million led by Bertelsmann India.
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Trucking aggregator LetsTransport raises $25M led by Bertelsmann India Investments (BII)
IndianStartupNews
·
2y ago
Medial
LetsTransport, an enterprise-level trucking aggregator, has raised $25 million in a new funding round led by Bertelsmann India Investments (BII), with participation from other undisclosed investors.
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Trucking Aggregator LetsTransport To Raise Rs. 112 Cr ($13.5 Mn) From Bertelsmann
Inc42
·
1y ago
Medial
Bengaluru-based last-mile tech-logistics startup LetsTransport is raising $13.5 million in a combination of equity and debt funding from existing investor Bertelsmann. The funding round includes $7.6 million through compulsorily convertible shares and the remaining amount in the form of debentures. Bertelsmann will hold around 44.7% stake in the startup following this funding round. LetsTransport provides intra-state delivery solutions and serves over 200 enterprises including Flipkart, CocaCola, and Amazon. The company has raised a total funding of $65 million till date and is backed by investors like Fosun International and Stride Ventures.
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Startup funding falls 30% on year to $73 million this week
Economic Times
·
1y ago
Medial
Startup funding in the penultimate week of April 2024 witnessed a decline of 27.9% compared to the same period last year, totaling $74 million across 14 deals. However, the deal density improved to $5.3 million per deal, which is higher than the previous week's average. The top deals included funding rounds for omnichannel fashion startup Lyskraft ($26 million) and logistics software provider LetsTransport ($22 million). Other notable funding rounds were led by Acacia ($6.5 million), Dhruva Space ($9.4 million), Plane ($4 million), and Flashaid ($2.5 million).
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VC-backed pet treat brand Dogsee Chews bags Series B funding
VCCircle
·
5m ago
Medial
Dogsee Chew, a Bengaluru-based pet treat brand, raised $8 million in a Series B funding round led by Ektha.com. The funds will enhance its market expansion and manufacturing capabilities, with a vision to penetrate the U.S. and Canadian markets through Amazon Global. The funding round also featured contributions from the brand's founders and Shivanssh Holdings, raising Dogsee's total funding to $22 million. Founded in 2015, Dogsee offers all-natural Himalayan cheese-based pet treats.
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Rural commerce startup Rozana bags $22.5 mn in fresh funding
VCCircle
·
1y ago
Medial
Rural commerce startup Rozana has secured $22.5 million in a recent funding round led by Bertelsmann India Investments. Fireside Ventures and other existing investors also participated in the funding. Rozana plans to utilize the funds to expand its warehousing and logistics reach, improve its technology platform, and strengthen its team. The startup, founded in 2021, focuses on serving the needs of rural communities in India and claims to currently serve over 12,000 villages across 13 districts. Rozana will also collaborate with xto10x, a consultancy startup founded by Flipkart co-founder Binny Bansal, to enhance its growth in rural commerce.
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ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week
Economic Times
·
10m ago
Medial
- Startups raised $77 million between September 28 and October 4, a 54.5% decrease from the same period last year. - This week, startups secured funding through 14 rounds, compared to 44 rounds in the year-ago period. - MStack, a specialty chemicals startup, raised $40 million in a funding round led by Lightspeed Venture Partners and Alpha Wave Global. - Basic Home Loan, a fintech startup, raised $10.6 million in a series B funding round led by Bertelsmann India Investments. - Troo Good, a snack brand, raised $8.6 million in a funding round led by Oaks Asset Management. - Str8bat, a sports technology startup, raised $3.5 million in a series A funding round led by Exfinity Venture Partners.
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Inflexor-backed Kale Logistics raises $30 Mn in Series B
Entrackr
·
1y ago
Medial
Kale Logistics has secured $30 million in a Series B funding round led by Creaegis Advisors. The logistics-focused SaaS company previously raised $5 million in a Series A round in June 2020. The company's flagship product, the 'Cargo Community Platform,' streamlines cargo logistics processing at airports, seaports, and customs checkpoints. The funds will be used to expand its presence in the US and Europe. In FY22, the company reported revenue of INR 52.63 crore and was profitable. Competitors include LetsTransport, Locus, and Cogoport.
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OmniCard Bags $3 Mn Funding
Inc42
·
1y ago
Medial
OmniCard, a spend management startup, has raised $3 million in a pre-Series A funding round led by Ankurit Capital and Taisys. The company plans to expand its customer base from 2 million users to 10,000 enterprises by FY 2027. This investment also represents Taisys' first investment in an Indian startup.
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SarvaGram Bags INR 565 Cr To Expand Its Lending Play
Inc42
·
8m ago
Medial
SarvaGram, a lending tech startup, has raised INR 565 Crores ($67 million) in a Series D funding round led by Peak XV Partners. Existing shareholders, including Temasek, Elevar Equity, TVS Capital, and Elevation Capital, also participated in the round. The funding brings SarvaGram's total funding to INR 950 Crores.
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