New-age logistics platform Rivigo raises USD 30 million funding from SAIF Partners & other investors

SAIF Partners, the leading venture capital firm has infused fresh capital into the new-age logistics platform Rivigo. In the Series B round of funding,led by SAIF Partners, Rivigo has raised USD 30 million with equity and debt financing. The platform aims to leverage the raised capital to achieve its target of scaling 10 times in the next 12 months.

Rivigo was founded in 2014 as TrucksFirst. It has quickly mapped a formidable growth path thanks to its unique operating model that has enabled it to consistently provide 50%+ reduction in delivery times to clients, while improving the quality of life of truck drivers. Rivigo provides high quality services to some of the most premier clients across major industry verticals such as e-commerce, FMCG, Auto, Pharma and the Cold Chain space.

Speaking on the investment, Deepak Gaur, Managing Director SAIF Partners India said, "The tech-enabled logistics space in India is robust and has tremendous potential. We also anticipate greater growth for this segment in view of the impending GST Bill. Rivigo has immense scope to serve the large opportunity space with its unique business model. We were particularly impressed by their smart use of tech and unique operating model that ensures high driver satisfaction, reliability and unprecedented delivery times".

Deepak Garg, Founder and 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're thrilled with the faith that SAIF Partners and other investors have shown in our unique approach to logistics. We'll be using the proceeds from this round to ramp up our operations. We'll also be focusing on expanding the technology team to add IOT, automation and data sciences."

Rivigo's USPs include its unmatched emphasis on driver satisfaction and training, the high reliability of its services thanks to a 24X7 service network, its immaculate documentation systems, quick response times and impeccable crisis management infrastructure as well as holistic client servicing.

The logistics platform provides delivery services at a pan-India level including otherwise difficult geographies such as the North East and Eastern parts of India.

Source : Equity Bulls

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