PE-VC Fund Investments
Fleet mgmt co. Letzryd raises $4-M led by JIF Capital
Bengaluru-based fleet management and vehicle leasing company LetzRyd has raised USD 4 million in a funding round led by JIF Capital Ltd, with participation from 15th Rock and existing investor Unleash Capital Partners.Founded in 2023 by Tarun Jain, Kushagra Dokania, and Sarvagna G, LetzRyd leases over 1,000 cars and drivers to taxi-hailing service companies. LetzRyd is operational in Hyderabad, Bengaluru, and Mumbai, with plans to expand to Delhi and Chennai.The company plans to use the capital to accelerate expansion, enter new markets, scale its vehicle base, and invest further in technology and operational infrastructure.
In Sep 2024, LetzRyd had attracted about USD 1 M from Unleash Capital Partners.For FY24, LetzRyd had reported about INR 0.11 Cr in Operating Income and about INR 0.10 Cr in Net Loss.
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