VC fund Bertelsmann takes majority stake in logistics firm Lets Transport

German media and services group Bertelsmann ‍has taken a majority stake in logistics platform Lets Transport, ⁠hoping to build on its presence in India as an important growth market, the head of its investment division told ‌Reuters.

"We now ‌have 80%," Bertelsmann Investments CEO Carsten Coesfeld said in an interview ‌published on Tuesday.

Bertelsmann, which owns publisher Penguin Random House and is also active in services and education, has held a stake in Lets Transport since late 2018.


The logistics company was founded in 2015 and connects truck drivers with corporate clients ‌across India.

"The ‍market for Lets Transport is ‍worth $14 billion, with an annual growth rate of around ‌11% - but 90% of it is unorganised," Coesfeld said.

Bertelsmann sees India in general as a key growth market. "It is highly attractive. We are convinced of its potential," he added.

He declined to give details on the investment.

A person ‍familiar with the matter said Bertelsmann's investment amounted to a high double-digit million-dollar sum and ‍that, ⁠in a hypothetical ⁠sale, Lets Transport could be valued at a three-digit million-dollar sum.

This is Bertelsmann's first strategic acquisition in India.

Coesfeld said he could imagine buying more assets across the supply chain of Lets Transport - which he described as a kind of Uber for logistics - such as warehouses.