Logistics

Logistics firm Rivigo raises $65 mn from Warburg Pincus, SAIF Partners

Our Bureau New Delhi | Updated on July 11, 2019 Published on July 11, 2019

 

Technology-enabled logistics firm Rivigo announced that it has raised $65 million in the ongoing series E round led by existing investors Warburg Pincus and SAIF Partners.

Rivigo has significantly improved its financial metrics across all businesses and aims to be profitable by the end of this financial year, according to a release.

Rivigo recently launched National Freight Index (NFI) – to track freight rates – to bring transparency to the largely unorganised logistics sector.

Started in 2014, Gurugram based start-up has laid a foundation to build the future of logistics through its innovative ‘Relay Trucking’ model and its freight marketplace. The company plans to utilize the funding to further strengthen its technology and network coverage, a key game changer for the larger logistics market in India. Rivigo has the largest network coverage with more than 29000 pin codes in India

Mr. Deepak Garg, Founder and CEO, Rivigo, said, “Relay trucking is now very well established where relay truck pilots lead better life and customers gets exceptional service. With technology and freight marketplace, we now want to bring relay to every truck in the country.”

In the $150- $160 billion Indian road freight market, Rivigo’s technological unique relay trucking model has ensured the company creates significant value for the sector. The relay model ensures drivers are behind the wheel for a maximum of four-five hours at a stretch and reach home the same day.

From building algorithmically complex models to accurately predicting the life journey of a consignment to creating a dynamic pricing engine for the freight marketplace, the company is working on problems at scale.

Published on July 11, 2019
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