Bertelsmann Investments completed the acquisition of a majority stake in LetsTransport.

Bertelsmann Investments, the venture capital arm of German media and services group Bertelsmann, completed the acquisition of a majority stake in LetsTransport, a provider of digital, tech-enabled logistics solutions in India. Financial terms were not disclosed. “LetsTransport is an outstanding example of a rapidly scaling tech company from the fastest growing scaled economy in the world. It builds the bridge between more than 250,000 mostly self-employed truck drivers and blue-chip companies. As a result, drivers get more jobs and make a better living while customers receive a much better service. All this on the back of structural growth trends in India – the country is building over 10,000 kilometers of highway each year and the e-commerce sector is expanding rapidly,” Carsten Coesfeld, Bertelsmann Investments CEO.