Rivigo bags US patent for its Relay Trucking model
August 5, 2019: Technology-enabled logistics firm Rivigo has bagged patent rights for its driver relay model by the US Patent and Trademark Office.
August 5, 2019: Technology-enabled logistics firm Rivigo has bagged patent rights for its driver relay model by the US Patent and Trademark Office. The Relay Trucking model uses algorithms to ensure drivers are behind the wheel for a maximum of four-five hours at a stretch and reach home the same day.
The Gurugram based start-up was started in 2014 with this innovative model and freight marketplace. The Relay Trucking system uses algorithms to assign drivers based on multiple parameters like equitable distribution of driving hours, rest hours and transit hours. Driving behaviour is also considered while deciding the final match between truck and driver.
In July, Rivigo raised a funding of $65 million in the ongoing series E round led by existing investors Warburg Pincus and SAIF Partners. The company plans to utilise the funding to further strengthen its technology and network coverage.
Rivigo also launched the National Freight Index (NFI) to bring transparency to the largely unorganised logistics sector. It provides fleet owners and logistics decision makers unrestricted access to freight rate information and trends.