A technology distribution and logistics platform called Ripplr, based in Bangalore, has announced that it has raised USD 40 million in a Series B round from new and existing Investors. Fireside Ventures took the lead in the financing.
New investors Bikaji and Neo Foods joined existing investors 3one4 Capital, Zephyr Peacock, and Japanese conglomerate Sojitz Corporation in the fundraising effort. The money will be used to strengthen its technological foundation, to grow the staff, and to establish a footprint across all of India. Strides Ventures, Alteria Capital, Northern Arc Investments, and Trifecta Capital all contributed debt to the round, as per reported by BW Disrupt.
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Abhishek Nehru and Santosh Dabke, Co-founders, of Ripplr, said, “The funding is an indicator of the company’s ‘strong unit economics’ and validation of our business model. Each Indian State is like a country having multiple dimensions on buying patterns, price points, and consumer sentiments. Our Goal is to stitch this multi-dimensional gap, helping distributors & retailers in connecting with brands. With this round, we are aiming to increase our geographical footprints in India to solve the reach and visibility complications faced by all the FMCG Brands in offline distribution and supply chain. At Ripplr, we aim at becoming one of the trusted long-term partners for brands, distributors, and Kirana stores by building an omnichannel model to optimise supply chain inefficiencies”
As a Plug-n-Play comprehensive distribution network that was launched in 2019, Ripplr offers Distribution as a Service (DaaS) to Brands managing and digitising operations. Additionally, it gives the supply chain a management layer to help with visibility and reach.
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Ripplr had previously raised USD 12 million in a funding round using a mix of stock and loans from Japanese firm Sojitz Corporation and Stride Ventures in December 2021 in order to establish and grow up an asset-light, tech-enabled FMCG distribution network. The business has expanded its operations across 12 locations and has experienced exponential growth over the past four years.
About Ripplr
A B2B retail technology platform called Ripplr provides FMCG brands with Distribution as a Service. They want to employ a plug-and-play, highly visible, and simple to scale Supply Chain platform to provide goods and services to the retail market in the multi-billion dollar distribution industry, where significant players still rely on old methods.
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