LetzRyd has raised $4 million in a Series A funding round led by JIF Capital, with participation from 15th Rock—marking its first investment in India—and existing investor UNLEASH Capital Partners.
The Bengaluru-based startup had previously secured $1 million in a pre-Series A round from UNLEASH Capital Partners.
The fresh capital will be deployed to expand into new urban markets, grow its vehicle fleet, strengthen its operating platform, and enhance technology-driven fleet and driver lifecycle management. The company also plans to develop driver-focused financial programmes, including initiatives that enable vehicle ownership.
Founded in 2023 by Tarun Jain, Kushagra Dokania, and Sarvagna G, LetzRyd is a technology-enabled fleet management platform focused on supporting ride-hailing ecosystems through operating lease and fleet deployment models.
Its platform combines financial structuring, operational efficiency, and technology-led monitoring to improve vehicle utilisation, uptime, and service quality. By enabling higher active usage of vehicles, the company aims to increase driver earnings while reducing fleet downtime.
LetzRyd provides vehicles and drivers to ride-hailing platforms while also enabling driver ownership through leasing models. Since its launch, the company reports a 20–22% increase in driver earnings and significantly lower attrition compared to industry benchmarks.
Currently operating across three cities with a fleet of over 1,000 vehicles, LetzRyd has recorded double-digit month-on-month growth and employs over 50 people. The company is also focused on achieving early-stage profitability while maintaining strong unit economics.
