Rivigo raises $65 million; will strengthen technology, network
July 11, 2019: Technology-enabled logistics firm Rivigo has raised a funding of $65 million in the ongoing series E round led by existing investors Warburg Pincus and SAIF Partners.
July 11, 2019: Technology-enabled logistics firm Rivigo has 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.
Deepak Garg, founder and CEO, Rivigo, said, “We continue on our mission to make logistics human and digital. 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.”
The Gurugram based start-up was started in 2014 with its innovative ‘Relay Trucking’ model and its freight marketplace. 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.
Rivigo recently 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.
Rivigo serves a network of more than 29,000 pin codes in India. It has significantly improved its financial metrics across all businesses and aims to be profitable by the end of this financial year.