Logistics

Ripplr mops up $12 million in Pre-Series B funding

Our Bureau | | Updated on: Dec 23, 2021
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Ripplr, a distribution and logistics ecosystem platform, has raised $12 million in Pre-Series B funding in a mix of equity and debt.

The investors in the round include Sojitz Corporation, a Japanese conglomerate; Stride Ventures along with 3one4 Capital, Zephyr Peacock India Growth Fund, Chand Family Office – Yukti, Vivek Gupta and Abhay Hanjura (Licious co-founders); Aniketh Jain and Ashish Aggarwal (Solution Infini, now Kaleyra, founders).

‘Bridging a gap’

Abhishek Nehru and Santosh Dabke, Co-founders of Ripplr said, “With our new model for the FMCG distribution and retail sector, we are in the process of disrupting traditional channels. Our AI/ML-based distribution platform bridges the gap between brands and unorganised retail, solving for both distribution and information asymmetry. We are building one of India’s largest asset-light and tech-enabled FMCG distribution networks and will use these fresh funds to scale our business into new geographies and build robust tech capabilities.”

Sari Miida, General Manager, Retail Department, Retail and Consumer Service Division, Sojitz Corporation said, “We are pleased to have an opportunity to enter Indian FMCG market by collaborating with Ripplr, which is one of the first companies to build digital distribution platform in the market and gaining traction from leading Indian manufacturers. From now on, we will try to contribute to solving the issues which consumer goods/food manufactures are facing in the Indian market by providing our knowledge gained through overseas wholesale business operations and our experience of international deals with consumer goods/food manufacturers.” Ripplr plans to deploy the fresh capital towards amplifying the company’s tech capabilities, product development, attracting new talent, expansion to new markets, and scaling of operations.

The company had earlier closed its Series A at $3 million in January 2021. Ripplr is already engaged with an international investment banker and is in advanced talks to close its Series B round early next year.

Published on December 23, 2021

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