Bangalore-based LetsTransport (LT), a last mile techno-logistics solution provider has acquired another startup Shifter, working in the same space. Based out of Bangalore, Shifter is a mini-truck procurement service available online or on call. With this strategic acquisition, LetsTransport will look to optimise its growing customer base and its fleet of transport and delivery vehicles in organised logistics.
Pushkar Singh, CEO of LetsTransport said, “This acquisition will help us increase our presence in both business and consumer space. The promoters of Shifter who are also our industry peers will continue to provide us counsel and support in the coming months to ensure smooth transition of operations without impacting the end customer.”
Shifter was founded by Rubal Siddhu and Prashant Gupta in 2014. Shifter is aimed at providing hassle free truck rentals with transparent pricing and also ensure continuous income for the truck drivers, by technology driven approach to this ecosystem. With Shifter, user can estimate the price for truck hire as per the needs and complete the bookings online or on call.
The company charges the user based on the distance travelled and the waiting time during the trip. Waiting time includes loading/unloading time and any other time during which the truck is not moving. Distance and time is calculated from your location to the drop point. Once the trip completes, the driver stops the trip on the Shifter Mobile Application, post which user receives the fare on your mobile phone along with the payment link. Following that, user can click on the payment link to see the fare details with the option to either pay online or through cash.
LetsTransport was founded by three IIT graduates Pushkar Singh, Sudarshan Ravi and Ankit Parasher in 2015. The company aims to streamline and revolutionize intra-city logistics at the tap of a button. LT provides both on-demand and customized attachment solutions for its clients along with value-added services. The company stands out with features like screened drivers, audited vehicles, transparent pricing and point-to-point billing. On the household front their services can be used for anything ranging from delivering appliances, moving furniture, to relocating or for simply hauling goods for a party.
LetsTransport aims to clock close to 2,000 trips in the coming month. LetsTransport is actively looking to raise funds in order to invest in product development and to scale in multiple cities.
In the same space, Ecom Express has recently raised $133 Mn (INR 850 Cr) from an affiliate of global private equity firm Warburg Pincus.