LetsTransport raises $7.5 million in extended Series B funding

Diptab Ventures Private Limited, which operates the intra-city logistics marketplace LetsTransport, has raised Rs 560 million (about $7.5 million) in an extension of its Series B funding round. LetsTransport raised this capital from investors including the DS Group, Bertelsmann, Mitsui Sumitomo, Rebright Partners and Altes Global. The start-up has issued 42,975 Series B1 compulsorily convertible preference shares to investors at Rs 13,002.65 apiece. While the DS Group invested Rs 160 million, Bertelsmann subscribed to shares worth Rs 150 million. Mitsui Sumitomo infused Rs 112 million in LetsTransport while Rebright Partners and Altes Global each invested Rs 75 million in the logistics-tech firm.

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