Gurgaon-based logistic platform, Rivigo, has raised $30 Mn in Series B round with equity and debt financing led by SAIF Partners and other investors. With the raised funds, the platform is aiming to achieve its target of scaling 10X in the next 12 months.
Deepak Garg, founder & CEO of Rivigo said, “Rivigo has been consistently committed to innovate in the high-growth logistics space in the country and make these services simple, efficient, safe and sustainable for businesses. We’ll be using the proceeds from this round to ramp up our operations. We’ll also be focussing on expanding the technology team to add IOT, automation and data sciences.”
Founded in 2014 by Gazal Kalra and Deepak Garg, Rivigo (previously TrucksFirst), offers hassle-free, reliable, professional and super-express logistics services. By using simple processes, advanced technology, trained and professional staff, the company helps clients manage long haul logistics seamlessly.
The company’s USPs include driver satisfaction and training, the high reliability of its services – a 24X7 service network, its immaculate documentation systems, quick response times and impeccable crisis management infrastructure as well as holistic client servicing.
With the help of its operating model, Rivigo consistently provides 50%+ reduction in delivery times to clients, while improving the quality of life of truck drivers. Its premier clients across major industry verticals include ecommerce, FMCG, auto, pharma and the Cold Chain space.
The logistics platform offers delivery services at a pan-India level including North East and Eastern parts of India.
Other players in the logistics space who have raised funding include, Bangalore-based B2B logistics startup BlackBuck raised $25 Mn in Series B round; express delivery service platform, Hipship raised an undisclosed amount from Inara Capital and Scootsy founder Rishi Khiani led consortium; on-demand logistics company, Instavans raised an undisclosed amount in funding from Suresh Vaswani’s family office; and first mile logistics services provider, Parcelled raised $5 Mn in Series A round from Delhivery and Traxn Labs.
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