Syamil Faisal16 Dec, 2019
Gurugram-based logistics startup, Rivigo will raise $20 million from its Series F round with its current investors SAIF Partners India VI Ltd and Spring Canter Investment Ltd.
Rivigo had gained its unicorn status last September after raising $4.9 million from South Korea-based KB Global Platform Fund with a valuation of $1.05 billion.
According to Nasscom's recent report, over 60% of unicorns in 2019 comes from emerging sectors such as gaming, automotive and supply chain/logistics — two of India's newest unicorns are both logistics firms; Delhivery and Rivigo.
Deepark Garg and Gazal Kara founded Rivigo to provide delivery services for retail, e-commerce, pharmaceutical, automobile, and FMCG companies across India.
“With RaaS (Relay-as-a-Service), we aim to offer the benefits of relay trucking to millions of fleet owners in India and bring efficiencies in the logistics industry, while directly addressing one of the biggest challenges of the chronic truck driver shortage," said Gazal Kalra, Co-founder at Rivigo.