LetzRyd, a mobility fleet platform focused on enabling scalable and inclusive urban transport infrastructure, has raised $4 million in a Series A funding round led by JIF Capital, with participation from Japan-based venture capital firm 15th Rock, marking its first investment in India, and existing investor UNLEASH Capital Partners.
The Bengaluru-based startup had previously raised $1 million in a pre-Series A funding round from UNLEASH Capital Partners.
The proceeds will be used to strengthen its fleet network, scale its operating platform, and enhance technology-led fleet and driver lifecycle management, LetzRyd said in a press release.
Co-founded in 2023 by Tarun Jain, Kushagra Dokania, and Sarvagna G, LetzRyd builds fleet solutions for ride-hailing platforms through operating lease and fleet deployment models.
By combining financial models, operational efficiency, and technology-led monitoring, the company improves vehicle utilisation, uptime, and service levels.
LetzRyd provides vehicles and drivers to ride-hailing platforms while enabling driver ownership through leasing models.
In its first year of operations, LetzRyd states it has helped increase driver earnings by 20 to 22 percent while reducing attrition significantly below industry benchmarks.
