LetsTransport acquires mini truck hiring platform Shifter for an undisclosed amount. Diptab Ventures P Ltd which owns and operates LetsTransport brand. The company plans to optimize its customer base and its transport fleet in organized logistics.
Shifter is owned and operated by Instatruck Transportation Services P Ltd offers mini trucks hire services providing that last mile connectivity connects trucks drivers and customers. Shifter was founded in December 2014 by Prashant Gupta from National Institute of Technology, Tiruchirapalli and Rubbal Siddu of Indian Institute of Technology, Delhi.
There is consolidation of business between LetsTransport and Shifter which are both in transport business. On call transport service provider Shifter is a phone or online away. On the other hand LetsTransport is a last mile techno logistics solution provider. LetsTransport provide on demand as well as customized attachment solutions for their clients with value added services.
LetsTransport screens their staff including drivers. The company conducts audit on their fleet, provides transparent pricing and point to point billing. The company was founded in early part of 2015 by Pushkar Singh, Sudarshan Ravi and Ankit Parasher.
Pushkar Singh has graduated in dual degree in Bachelor of Technology in Mechanical Engineering from Indian Institute of Technology, Kharagpur in 2013. He has several honours and awards such as TKT Srikrishnan Endowment Prize and Bronze medallist in Inter IIT Water polo Championship. He has published papers on Correction of bending angle of mechanically bent stainless steel samples using fibre laser.
He started his career as intern in GE Transportation in 2010. He became student co coordinator in Indian Institute of Technology, Kharagpur in July 2011. Pushkar managed this position for a year and in 2013 he joined Assistant Manager – Operations in Charge of Quality. He was responsible for manufacturing systems, process excellence and quality of premium cookies, cream biscuits and other products. He handled operations of 1400 manufacturing facility.
Sudarshan Ravi is co founder of LetsTransport. He has done integrated Master of Science in Economics from Indian Institute of Technology, Kharagpur in 2013. Additionally he has completed Chartered Financial Analyst Level 1. He started his career as intern in Union Bank in May 2011.
He was a research intern in Planning Commission, Delhi in May 2012. He was instrumental in recommending 6 amendments in the Delhi Master plan. Apart from this he carried out viability analysis of Delhi Metro in the areas of financial and business. In June 2013 Sudarshan joined Accenture as Analyst – Management Consulting. He worked in market analytics team at the company and handled media marketing mix project for a major US retailer using advanced analytics. After working for 13 months he moved out.
In June 2014, Sudarshan joined JP Morgan as Equity Strategy Analyst. He focused on Asia and Emerging Market. He extensively worked on macroeconomic analysis of Asian and Emerging markets. Apart from these he managed portfolio management for eleven Asian countries. He left JP Morgan in the month of April 2015 to found LetsTransport.
Ankit Parasher is co founder of LetsTransport. He has graduated in Bachelor of Technology (Hons) in Electronics and Electrical Communication in 2012. He has been honoured with gold medal at Indian Physical Olympiad 2008. He has published Using QR Code for benefitting the masses at CSITM Annual Conference at Indian Institute of Management, Bangalore in 2012.
He started his career as interns in Airtel and Defence Research and Development Organization in 2011. Ankit started working as Associate Software Engineer in CA Technologies from July 2012. He went on to become Software engineer in 2014. He handled sustenance engineering team for ca clarity PPM and ca Agile Vision. Ankit is a fellow of Startup Leadership Program which is a selective training program for outstanding founders and innovators.
LetsTransport is looking at consolidating 2,000 trips this month and plans to leverage Shifter’s network. In the month of May, LetsTransport clocked 1,200 trips. After the acquisition Pushkar Singh, Chief Executive Officer said “The buyout has been funded through the money raised from the founding team and their associates.” He further added “This acquisition will play a key role to 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.”
Mumbai based Resfeber Labs Pvt Ltd that runs and owns The Porter has raised $500,000 from Kae Capital and looking for larger capital thru Series A funding. In November 2014, Blowhorn raised an undisclosed amount in seed funding from Unitus Seed Fund and group of investors.
Recently world renowned PE firm Warburg Pincus has invested over $133 million in Delhi based Ecom Express P Ltd which termed to be second largest investment in this sector after 4 years. It would be interesting to see how this companies will offer that niche services to their end customers. Due to advent of better internet services many startups will offer new offerings.