India, Feb. 10 -- German venture capital (VC) firm Bertelsmann Investments (BI) has acquired a majority stake, 80% to be precise, in its portfolio truck aggregator startup LetsTransport, with an intent to build and scale the startup as its first India based majority-owned, founder-led operating business. The firm didn't disclose the size of the deal.

In a statement, BII said that the deal would allow it to support LetsTransport by providing them access to long-term capital and governance support, as well as enabling access to Bertelsmann's global network.

With the deal, LetsTransport will become a part of Bertelsmann Next growth unit of BI. This marks the launch of Bertelsmann's acquisition-oriented investment arm, Bertelsmann Next, in ...