Total amount raised
$287 Millions
Latest funding date
8/1/2022
Location
Rivigo has successfully raised significant funding across multiple rounds, currently reaching the Series H stage. The company offers a technology-enabled logistics platform that serves various sectors, including e-commerce, automotive, and food processing.
Keep reading to explore the intricacies of Rivigo's fundraising journey and the investors backing this innovative platform.
What Is Rivigo?
Rivigo, founded in 2014 by Deepak Garg and Gazal Kalra, is a technology-enabled logistics platform based in Gurgaon, Haryana, India. The company specializes in providing relay-led trucking and a digital freight marketplace, serving sectors like e-commerce, automotive, and food processing.
With a workforce of 1001-5000 employees, Rivigo offers a full-stack logistics solution that includes express logistics across full truckload, part truckload, and cold chain logistics. Their innovative approach aims to ensure faster and more reliable deliveries.
Rivigo's technology think-tank, RIVIGO Labs, continuously works on enhancing their logistics solutions, making them a leader in the industry. Their services are designed to meet the diverse needs of their clients, ensuring efficiency and reliability.
How Much Funding Has Rivigo Raised?
- Series B
- Amount Raised: $30M
- Date: December 2015
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand logistics services and enhance technology infrastructure.
- Series C
- Amount Raised: $75M
- Date: October 2016
- Lead Investors: Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Debt Financing
- Amount Raised: ₹1B
- Date: March 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs.
- Series D
- Amount Raised: ₹3.2B
- Date: January 2018
- Lead Investors: Elevation Capital, Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand service offerings.
- Series E
- Amount Raised: $65M
- Date: July 2019
- Lead Investors: Elevation Capital, Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen market position and improve logistics network.
- Series E
- Amount Raised: ₹352.5M
- Date: September 2019
- Lead Investors: KB Global Platform Fund
- Valuation at Round: $1.05B
- Motivation Behind the Round: To enter the unicorn club and expand internationally.
- Series F
- Amount Raised: ₹1.4B
- Date: December 2019
- Lead Investors: SAIF Partners, Spring Canter Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance cold chain logistics and expand service offerings.
- Debt Financing
- Amount Raised: $3.4M
- Date: January 2020
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and working capital.
- Series G
- Amount Raised: ₹844M
- Date: November 2020
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To maintain market leadership and invest in technology.
- Series H
- Amount Raised: ₹160M
- Date: August 2022
- Lead Investors: Elevation Capital, Spring Canter Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand logistics network and explore new markets.
Total Amount Raised: $1.2B. Current Valuation: $1.05B.
Key Investors
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that invests in early-stage startups. They have a strong presence in the Indian startup ecosystem.
- Investment Focus Areas: Technology, consumer internet, financial services.
- Notable Investments: Paytm, Swiggy, UrbanClap.
- Spring Canter Investment
- Details: Spring Canter Investment is an affiliate of Warburg Pincus, a global private equity firm. They focus on growth-stage investments.
- Investment Focus Areas: Private equity, growth-stage companies, various sectors.
- Notable Investments: Bharti Airtel, HDFC, Kotak Mahindra Bank.
- SAIF Partners
- Details: SAIF Partners is a venture capital firm that invests in early to growth-stage companies. They have a diverse portfolio across multiple sectors.
- Investment Focus Areas: Technology, consumer services, financial services.
- Notable Investments: MakeMyTrip, JustDial, Paytm.
- Trifecta Capital
- Details: Trifecta Capital is a venture debt firm that provides debt funding to startups. They support companies in scaling their operations.
- Investment Focus Areas: Debt funding, technology, consumer services.
- Notable Investments: BigBasket, UrbanClap, CarDekho.
- KB Global Platform Fund
- Details: KB Global Platform Fund is the investment arm of South Korea-based KB Financial Group Inc. They focus on technology and financial services sectors.
- Investment Focus Areas: Technology, financial services, various sectors.
- Notable Investments: Specific notable investments not mentioned.
What's Next for Rivigo?
Rivigo stands at the cusp of significant growth opportunities, particularly in sectors like e-commerce, pharmaceuticals, and FMCG. With a network covering over 30,000 pin codes in India, the potential for expansion is vast. The company is also exploring strategic partnerships, including potential sales to major players like Flipkart and FirstCry, which could further bolster its market presence.
Given its successful fundraising history, Rivigo is well-positioned for future rounds. The ongoing discussions with industry giants could lead to substantial financial opportunities, either through acquisitions or additional investments. However, the company must navigate intense competition and operational challenges to maintain and expand its logistics network.
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