Monday, September 26, 2022
HomeInsightFunding Alert Rivigo raises $2 mn in Series H round

[Funding alert] Rivigo raises $2 mn in Series H round

Trucking logistics firm Rivigo has raised Rs 16 crore (around $2 million) in its Series H funding round from existing investors Elevation Capital and Warburg Pincus affiliate Spring Canter Investment. 

Trucking logistics firm Rivigo has raised Rs 16 crore (around $2 million) in its Series H funding round from existing investors Elevation Capital and Warburg Pincus affiliate Spring Canter Investment. 

Gurugram-based Rivigo was founded in 2014 by IIT Kanpur graduate Deepak Garg and Stanford alumnus Gazal Kalra, It provides pan-India logistics services to e-commerce, pharmaceuticals, automobile, cold-chain and FMCG companies.

With over 250 processing units and over 70 pit stops, the firm says it offers the largest network service coverage in India spanning over 30,000 pin codes.

Read also – [Funding alert] Healthtech startup Mojocare raises $20.6 mn in series A round

In another ongoing development, media reports say that the logistic firm is in talks with e-commerce marketplace Flipkart and omnichannel baby products retailer FirstCry for a potential sale.

In September 2019, Rivigo become unicorn after it had raised $4.97 Million in funding from KB Global platform fund, the investment arm of South Korea-based KB Financial Group Inc, at $1.05 billion valuation.

In November 2020, Rivigo had raised Rs 84.4 crore in its Series G funding round from Elevation Capital.

About Rivigo

RIVIGO is a technology company that is building the material movement pipeline of India and making logistics human, faster, safer and cost-effective.

Founded in 2014, they have been transforming the sector with their global-first driver relay model and a strong interplay of technology, data, culture and operations excellence to consistently provide unparalleled delivery times and reliability to their clients. The model also helps ensure that each of their truck drivers, the pilot, now spends less time away from his family, thereby leading a life of meaning, dignity and respect.

Read also – [Funding alert] Dwija Foods raises Rs 5.15 Cr in funding

Their full-stack logistics offering includes relay-led trucking and freight marketplace. Relay delivers express logistics across full truck load, part truck load and cold chain logistics.

RIVIGO Freight is India’s largest digital trucking marketplace. They empower numerous shippers and fleet operators to optimize their fleet and achieve maximum results and aim to bring a positive impact across the freight ecosystem by making it fully digital and transparent.

RIVIGO Labs, their technology think-tank is home to the country’s best data scientists and engineers. The team has built multiple ground-breaking technology applications in logistics to fundamentally transform the sector. From building algorithmically complex models to accurately predict the life journey of a consignment to creating a dynamic pricing engine for India’s largest freight marketplace, the team is working on hundreds of never-done-before problems at scale.

RELATED ARTICLES
- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -
Newsletter

Subscribe to our weekly newsletter and don't forget to check out the latest updates.