Gurgaon based tech-enabled logistic startup Rivigo has confirmed picking up $65 million as part of Series E financing led by existing backers, SAIF Partners and Warburg Pincus. The capital raised by the company now stands at $281.2 million since its inception.
Launched in 2014 by Deepak Garg and Gazal Kalra, Rivigo offers a technology platform which allows clients to track and manage shipments. Through the mobile app, the company helps the drivers navigate maps and accept assignments. The platform makes sure that the drivers are getting enough rest and at the same time, the trucks are up and running too.
The freshly raised capital will be used to strengthen its technology and network coverage. The company currently claims to be covering more than 29K pin codes in the country. Rivigo has its presence across 150 locations in the country where it offers delivery services to e-commerce, pharmaceutical, automobile, cold-chain, and fast-moving consumer goods companies.
Rivigo CEO Deepak Garg commenting on their plans going forward said, “We continue on our mission to make logistics human and digital. Relay trucking is now very well established where relay truck pilots lead a better life, and customers get exceptional service. With technology and freight marketplace, we now want to bring relay to every truck in the country.
Blackbuck, Locus, Locanix, ElasticRun, and 4tigo Network Logistics are few of the companies Rivigo is competing with in the tech-powered logistic segment which is valued around $160 billion. The freshly raised capital will surely make things tighter for the others working in the segment and giving Rivigo some space to steer ahead of others.
Image Courtesy : Rivigo