Ripplr, which is administered by Intelligent Retail Pvt. Ltd, has secured money in a seed funding round. Venture Capital companies, Sprout Venture Partners and 3one4 Capital led the funding round of the startup.
The company will use the funds to enhance its technological infrastructure, expand its distribution, technology and finance teams, Abhishek Nehru, co-founder at Ripplr, said in an interview with Inc42.
The startup was initiated by Santosh D and Abhishek Nehru in June 2018. It claims that it concentrates on rendering end-to-end logistics assistance to newly established brands by employing technology along with present infrastructures.
It (Ripplr) has so far registered an accounting rate of return (ARR) of around INR 12 crore and that it is aiming to achieve an ARR of INR 100 crore in the next 12 months. It is aiming to become a cost-effective, capital-light and risk-free distribution platform with a strong technological backend, VC Circle reported citing the companys official statement.
As per the companys website, Ripplr renders artificial intelligence (AI), omnichannel enabling, deep tech analytics, and end-to-end visibility.
Investment companies are eyeing logistics tech firms as they render new services at nominal rates. Several logistic-tech firms have secured a large chunk of money recently. Some of them include Delhivery, BlackBuck and Ecom Express.