Bertelsmann Investments, the venture arm of the German media and services group Bertelsmann, acquired an 80% majority stake in LetsTransport, a Bengaluru-based platform that matches truck drivers with business customers. The deal was announced on February 10, 2026.
The companies did not disclose the price. Bertelsmann said it was its first strategic acquisition in India. The founders will continue to run LetsTransport day to day, and the company will be renamed LetsTransport Group.
Bertelsmann has been a shareholder since the end of 2018 through its Indian fund, Bertelsmann India Investments (BII). Pankaj Makkar, BII's managing director, told Inc42 that after the deal only the founders and Bertelsmann will hold shares, which means the startup's other investors are selling out.
What LetsTransport built
LetsTransport was founded in 2015 in Bengaluru. It runs a marketplace for intra-city and regional road freight that connects independent truck drivers and small fleet operators with corporate shippers. Inc42 named its founders as Pushkar Singh, who is chief executive, Sudarshan Ravi and Ankit Parasher. Inc42 reported that its network covers about 80% of India's roads.
The company says it has more than 250,000 drivers and small fleet operators on its network. Bertelsmann put its corporate client count at more than 100, while Inc42 reported about 150 large clients plus some smaller businesses, in sectors including e-commerce, consumer goods, durables and automotive.
LetsTransport employs nearly 500 people and runs 25 offices in major Indian cities. Bertelsmann said its revenue grew by about 40% in 2025. Singh told Inc42 that the core business brings in about $150 million a year, is growing at 50% to 60% annually and is profitable at the EBITDA level. He said the company would keep investing in newer businesses it is incubating.
“We are delighted to further strengthen our long-standing partnership with Bertelsmann Investments. Since BII's first investment at the end of 2018, we have achieved numerous important milestones together.”
The funding history
Entrackr reported that LetsTransport raised $77 million before the acquisition, including $25 million in July 2023 and a $22 million Series E in April 2024 led by Bertelsmann India Investments. Inc42 put total funding at about $83 million.
Other backers named by Inc42 include InnoVen Capital, Alteria Capital, MSIVC, Stride Ventures and NB Ventures. Bertelsmann said BII first invested at the end of 2018 and joined later equity rounds.
Why Bertelsmann is buying
LetsTransport becomes the first portfolio company of Bertelsmann Next India, a new unit that will buy majority stakes in founder-led Indian businesses and help them grow. Bertelsmann Next was created in 2022 as the group's acquisition-focused growth arm, according to Inc42. Makkar will lead the Indian unit and chair LetsTransport Group's board.
Bertelsmann said majority ownership gives LetsTransport access to long-term capital, help with governance and the group's international network. Inc42 reported that the company will serve as an anchor investment for Bertelsmann Next India and remain a core operating business rather than being merged into another unit.
Carsten Coesfeld, chief executive of Bertelsmann Investments, said the group was long on India. He described LetsTransport as a link between more than 250,000 mostly self-employed truck drivers and large companies, giving drivers more work and customers better service, and pointed to India building more than 10,000 kilometres of highway a year and the growth of e-commerce. He compared the approach to Bertelsmann's earlier investment in Afya, a Brazilian network of medical schools that is now listed on Nasdaq and part of the Bertelsmann Education Group.
Coesfeld told Reuters that Bertelsmann is considering further acquisitions along the supply chain, including warehouse assets, as it builds out a logistics platform around LetsTransport, EnterpriseAM reported.
Links to Shiprocket
LetsTransport will also work with other Bertelsmann portfolio companies. Entrackr reported that it will handle intra-city and mid-mile trucking for Shiprocket, another Bertelsmann portfolio company, while Shiprocket will help LetsTransport expand into part-truckload shipments and warehousing.
Makkar said Bertelsmann's relationship with Shiprocket is a long-term one and that the group expects to stay involved with the company after its initial public offering. He described LetsTransport as a leading player in Indian logistics, with a strong founding team, a data-driven platform and a business model that can scale.
Singh said Bertelsmann's move to majority ownership would let LetsTransport expand its technology and network and offer better services to customers across India.
