LetsTransport reports 50% demand surge, 20 new clients & 33 crore funding
July 22, 2020: Logistics marketplace LetsTransport has reported a surge in demand with bookings reaching pre-Covid-19 level, signing 20+ new clients during March and April and raising the total funding of Rs 33 crores during the last two months.
July 22, 2020: Logistics marketplace LetsTransport has reported a 50 percent surge in demand with bookings reaching pre-Covid-19 level, signing 20+ new clients in March and April and raising the total funding of Rs 33 crores during the last two months.
The company will utilize this fund in geographical and technological expansion, adding more to its client base and to further scale up the company’s operations.
“This forecasts a long-term benefit to the company’s growth as logistics progresses from informal to formal sector with brands wanting to work with organized players vs local vendors. With a presence in 15 cities, LetsTransport is driven to convert this pandemic into an opportunity,” said the release.
The company’s baseline for essential goods has moved swiftly during the last few months. The movement of non-essential products is stacking up to the revised baseline resulting in a growth spurt of approximately 50 percent for LetsTransport.
Pushkar Singh, CEO & co-founder, LetsTransport, said, “We are ecstatic about our progress in the last few months. The pandemic has heightened the significance of a flexible and receptive supply chain. It has moved logistics from an informal to a formal sector with brands wanting to work with organized players vs. local vendors due to the many tangible and intangible benefits offered by organized players. We have seen an uptake in the number of customers and our booking data highlights the same. Companies and brands have taken stock of the importance of adapting technology and scientific methods. Tech will be a differentiator for the times to come and we are optimistic about our future in the ecosystem.”
LetsTransport provides urban logistics solutions to enterprises by offering tech-enabled intra-regional transportation services. It enables enterprise clients to book trucks and manage bookings through their mobile app, call, and website. This tech-enabled urban logistics player deals in the light commercial vehicle segment, distance range up to 300 km, and a fleet of 60,000+ registered light commercial vehicles with a solid client base consisting of marquee names such as Amazon, Flipkart, Coca-Cola, etc. The company primarily provides logistics solutions across various industry verticals and its competitive advantage lies in its ability to cross utilize for higher capacity, increased asset sweating, and an efficient cost structure.