Logistics startup Rivigo has recently announced that it has secured $75 million in Series C round of funding from global private equity firm Warburg Pincus.
This is the fourth and largest round of capital raised by the Gurgaon-based firm. It has so far raised USD 39.6 million from SAIF Partners, Singapore Post and others.
Company’s CEO Deepak Garg in a statement said, “The infusion of capital will help us scale up our various service offerings across India, and importantly, accelerate our investment in technology and talent.”
“We are excited by Rivigo’s growth prospects and its potential to disrupt the Indian trucking industry, which is by far the largest segment of logistics in India. The company is delivering a fundamentally superior proposition for customers and truck drivers by deploying a unique operating model, enabled by the smart use of technology and analytics. The prospects are likely to be further enhanced upon implementation of GST,” Warburg Pincus’ MD, Viraj Sawhney said.
Rivigo operates over 2,000 trucks and serves to clients across major industry verticals such as e-commerce, FMCG, automotive, retail and pharmaceuticals. It leverages data, technology and IOT extensively to solve real challenges in logistics.
Recently, the company ordered 1,200 medium and heavy commercial vehicles from Ashok Leyland to expand its pan India fleet.