Mobility fleet platform LetzRyd has raised $4 million (approximately Rs 33 crore) in a Series A funding round led by JIF Capital, with participation from Japan-based VC 15th Rock (its first India investment) and existing investor UNLEASH Capital Partners. The Bengaluru-based startup had previously raised $1 million in a pre-Series A round. The fresh capital will be used to strengthen its fleet network, scale its operating platform, and enhance technology-driven fleet and driver lifecycle management.
Building scalable fleet solutions for ride-hailing platforms
Co-founded in 2023 by Tarun Jain, Kushagra Dokania, and Sarvagna G, LetzRyd develops fleet solutions for ride-hailing platforms through operating lease and deployment models. The company combines financial structuring, operational efficiency, and technology-led monitoring to optimise vehicle usage, uptime, and service quality.
Enabling driver ownership and improving earnings
LetzRyd provides vehicles and drivers to ride-hailing platforms while enabling driver ownership through leasing models. This approach allows drivers to gradually own vehicles while maintaining steady income streams. In its first year, the startup claims to have increased driver earnings by 20–22% while significantly reducing attrition compared to industry benchmarks.
Scaling technology-led fleet and driver lifecycle management
The platform focuses on improving fleet utilisation, operational visibility, and driver engagement through data-driven systems. With the new funding, LetzRyd plans to scale its presence across urban markets and strengthen its role in building inclusive and efficient mobility infrastructure.
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