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One of the recent logistics startup offering and managing transportation of heavy motor vehicles and trucks, Rivigo has raised another $50 (INR 318 Cr) million from two of its existing investors Warburg Pincus and SAIF Partners. The Startup had already raised sum of $75 million (INR 500 Cr) in their last round.
A brief overview about Rivigo
Rivigo was founded in 2014 by Harvard alumnus Gazal Kalra and IIM Lucknow alumnus Deepak Garg, Rivigo (earlier named as TrucksFirst) use to own and operates over 2100 trucks and had a pan India network across 150 locations. Since then the company has been expanding rigorously to establish its supremacy and marketshare in a completely unorganised sector which seemed to be the backbone of Indian Manufacturing, Food & Agriculture and other important sectors, thus contributing hugely to Indian economy and GDP.
“The company aims to bring the revolution in heavy transport solutions in the country. Against the average distance of 15 km per hour by the industry, their technological and operational innovations have ensured that their truck covers 40 km or more in an hour. This enables them to provide the faster services, on Indian road conditions, overcoming delays at numerous checkpoints across 29 states in the country. They serve Apparel & lifestyle, Food & Dairy products, auto components, pharmaceuticals, e-commerce, electronics, consumer goods. The Startup has also raised INR 200 Cr in December last year as round B.”
With three consecutive big funding rounds of $50 million (twice) and $75 million the company is evaluated to become a unicorn by ET.