[Update] Ripplr Raises $45 Mn From SBI, Existing Investors

Update | November 28, 15:00 IST

Distribution and logistics startup Ripplr has raised $45 Mn (about INR 402.6 Cr) in its Series C round. In a blog post, Ripplr’s existing investor 3one4 Capital said that the round saw participation from existing investors, with SBI joining the cap table as a new investor.

Sources told Inc42 that the round was a mix of primary and secondary transactions, along with debt, and valued the startup at around $250 Mn. The startup was reportedly valued at $100 Mn during its previous fundraise in 2023.

Ripplr plans to deploy the fresh capital for expansion and scaling its core business operations. It will use the funds to scale its new electronics distribution business, enter new territories and add new brands in the existing markets.

It will also strengthen its distribution-as-a-service (DAAS) offering. A part of the funds will be used to scale its microfulfillment centres (MFC), which are focussed on quick commerce players. “Ripplr currently has six functional MFCs operating across six cities,” one of the sources said. 

The 3one4 Capital blog also mentioned that the startup is “nearing EBITDA positivity and preparing for a potential IPO within the next 18 to 24 months”. 

Ripplr, which provides a plug-and-play tech-enabled distribution platform for FMCG and ecommerce brands, serves around 1 Lakh retailers and processes thousands of orders each month. It counts the likes of Unilever, Nestle, Tata, Godrej, Nivea, and Dabur among its customers. 

Original | September 13, 17:30 IST

Distribution and logistics startup Ripplr has raised INR 200.3 Cr (about $22.6 Mn) from its existing investors. The round was led by Sojitz Corporation, and saw participation from 3one4 Capital and Trifecta Capital.  

According to the startup’s MCA filings, Ripplr allotted 3.1 Lakh Series C1 CCPS shares to Sojitz Corporation at an issue price of INR 6,119 apiece, aggregating to INR 191.6 Cr. 

Sojitz Corporation is a Tokyo-based general trading company which is involved in manufacturing and distribution of various products and goods. The company operates in various industries such as aerospace, automotive, infrastructure development, energy solutions and retail services. 

Earlier this year, Sojitz also invested in IOC GPS Renewables Pvt Ltd, a joint venture between GPS Renewables and Indian Oil, for production and sales of biomethane. 

Meanwhile, 3one4 Capital and Trifecta Capital infused INR 8.3 Cr and INR 63.9 Lakh, respectively, in Ripplr. 

It is not clear how the startup plans to use the capital. A questionnaire sent to Ripplr cofounder Abhishek Nehru didn’t receive any response till the time of publishing this story. 

Founded in 2019 by Nehru and Santosh Dabke, Ripplr provides a plug-and-play tech-enabled distribution platform for FMCG and ecommerce brands. It helps enterprises in warehouse onboarding, store onboarding, and price management. 

The startup’s logistics division helps manage last-mile delivery fleets, provides cold chain solutions and vehicle tracking. 

Ripplr provides its distribution management services to brands like Colgate, Britannia, Dabur among others. It counts the likes of BigBasket, Blinkit and Croma among its clients for the logistics business. 

The Bengaluru-based startup last raised $40 Mn in a mix of equity and debt in 2023. It counts the likes of Fireside Ventures, Bikaji, Neo Foods, and Zephyr Peacock among its investors. 

Ripplr competes with the likes of Udaan, ElasticRun, traditional distributors, among others.

On the financial front, Ripplr’s net loss widened 43.5% to INR 89.15 Cr in FY24 from INR 62.09 Cr in the previous fiscal year. However, operating revenue surged 38.9% to INR 1,028.38 Cr from INR 740.22 Cr in FY23.