Diptab owned LetsTransport Secures Rs 100 crore in Series B Funding
Diptab, the owner of trucking logistics company LetsTransport has secured funds amounting to Rs 100 crore ($14.2 million) in Series B funding. This round was led by Bertelsmann India Investments and a Japanese-origin investor.
Fosun RZ Capital, the venture capital arm of Chinese conglomerate Fosun International, participated in the round earlier this year.
It has been reported that the developments pegged the valuation of the company, which provides intra-city logistics services, at $80-100 million.
“We will use the proceeds to move into newer segments such as pharmaceuticals, consumer durables and cement, among others… We will also expand our presence to 20 more towns and cities, up from our current seven, by 2020,” Singh stated.
Founded by IIT K...