Founded by IIT-KGP alumni, logistics startup LetsTransport is eyeing the $30B intra-city market
YourStory (November 20, 2019)
Pictured L to R: Sudarshan Ravi ('13), Pushkar Singh ('13), Ankit Parasher ('12)
LetsTransport is a Bengaluru-based intracity logistics firm, which has on-boarded over 44,000 trucks. Founded in 2015, the startup, which focuses on retail, FMCG, and ecommerce, has raised $20.3 million across five funding rounds.
Logistics is one of the biggest challenges for any large organisation. According to IBEF, the size of the Indian logistics industry is around $200 billion. And despite different players in the space, logistics in India is still largely unorganised.
It was something that Pushkar Singh felt strongly while working in the cookies division at ITC. He realised that last-mile logistics was a bigger challenge as it was important that the brand's products reach outlets on time.
"If a consumer reaches an outlet to find Coca-Cola, and the product isn't available in the store, it means he will end up buying a Pepsi. We have lost a customer," Pushkar says. Clearly, there was a huge gap in last-mile, intra-city delivery. (Read More)