Gurugram-based tech-enabled logistics startup Rivigo which aims to deliver reliability through their network and provide transparency to clients has raised funding of $50 million from its existing investor's private equity firm Warburg Pincus and investment firm SAIF Partners.
In 2015, SAIF Partners invested twice in the startup first in April with $9.6 million and then in December with $30 million. In 2016, Warburg Pincus had invested $75 million in the startup in Series C round.
In 2014, the logistics startup was launched by Deepak Garg and Gazal Kalra. In this round, the startup has allotted 8,231 convertible cumulative preference shares at Rs.2,53,765 per share to SAIF Partners for a total corpus of Rs.208.88 crore. While 4,477 shares were allotted to Warburg Pincus at Rs.113.61 crore, reported by ET citing the source of information a research platform Tofler.
The report also states that the companys revenue in fiscal 2017 has raised up to 170 per cent which is Rs.402 crore from Rs.149 crore in 2016.
In 2017, the startup has raised debt funding of Rs.100 crore to expand its operations by increasing its fleet of trucks.
Avendus Capital published a report which states that delivery startups, truck aggregators and warehousing market projected to rise up to $9.6 billion by 2020 from $1.4 billion in 2015.