InnoVen Capital invests Rs 13 cr in LetsTransport

InnoVen Capital on Monday said it has invested Rs 13 crore in LetsTransport, a marketplace for fulfilling intra-city last mile deliveries.

The recent investment underlines the firm's commitment in being an integral part of the transformation of logistics-led space in India, a statement said.

LetsTransport provides urban logistics solutions to enterprises by offering tech-enabled intra-regional transportation services.

It enables enterprise clients to book light commercial trucks and manage bookings for distance range 100-200 kms.

The company has a presence in 15 cities in India and has a registered trucker supply of over 58,000 drivers.

Pushkar Singh, co-founder and CEO of LetsTransport said the company will continue to scale up its network and improve capabilities.

"We continue to scale up our network and improve our capabilities as we help streamline urban transportation for enterprises, especially during these trying times when more and more businesses are partnering with organised logistics players to enable direct to consumer deliveries," he added.

Innoven Capital India CEO Ashish Sharma said the company continues to be bullish on the logistics space.

"...(we) expect that organised players will continue to gain share on the back of higher efficiencies and superior service delivery. LetsTransport has built a fantastic business in a rather capital efficient manner and we are excited to be part of their growth journey," he added.