LetsTransport was founded in 2015 by Pushkar Singh, Sudarshan Ravi, and Ankit Parasher.Bertelsmann Investments has acquired an 80 per cent majority stake in Indian logistics startup LetsTransport.
As part of the transaction, LetsTransport will be renamed LetsTransport Group (LTG) and continue to be led operationally by its founders, it said in a statement on Tuesday.
The company will scale from a trucking marketplace into a technology-led logistics platform serving enterprise and mid-market customers.
“India has been a standout growth market for us, powered by exceptional founders and ambitious companies. With Bertelsmann Next India, we’re deepening that commitment—partnering for scale with patient capital and global know-how, while keeping founders in the driver’s seat,” said Carsten Coesfeld, CEO, Bertelsmann Investments.
BII has also launched a new India-focused growth platform, Bertelsmann Next India (BNI), which is designed as a buy-and-build platform to create and scale majority-owned, founder-led operating businesses in India.
The initiative mirrors the firm’s growth model in Europe and the US, where it has partnered with entrepreneurs to build businesses in areas such as mobile ad tech, HR tech and pharma tech.
BNI will be headed by Pankaj Makkar, managing director of Bertelsmann India Investments (BII), who will also serve as chairman of LTG’s board. Through BNI, Bertelsmann will provide LTG with long-term capital, governance support and access to its global network, including supply chain services firm Arvato.
The platform also plans to add complementary businesses to LTG through organic expansion and acquisitions.
LTG has also entered into an operating partnership with Shiprocket, under which LTG will support Shiprocket’s intra-city and mid-mile trucking needs, while Shiprocket will help expand LTG’s part-truckload and warehousing offerings.
Bertelsmann, through its BII fund, is the largest investor in Shiprocket with a significant minority stake.
Bertelsmann said BII will continue unchanged as a sector-agnostic, early-growth stage venture capital fund. BII is currently deploying capital from its recently raised $500 million fund.
Pushkar Singh, Co-founder & CEO, LetsTransport, added, “BNI is designed for builders. It gives founders the space to operate independently while backing them with patient capital and a shared long-term vision through a globally successful BNI platform. That kind of partnership gives us the flexibility to scale both organically and inorganically as we grow LetsTransport into a national logistics leader.”
LetsTransport was founded in 2015 and connects over 250,000 truck drivers and small fleet operators with corporate customers across India. The company serves more than 100 enterprises and reports a service fulfilment rate of over 90 per cent.
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