Total amount raised
$287 Million
Latest funding date
8/1/2022
Location
Rivigo has successfully raised funding over 12 rounds, with the latest being a Series H round led by Elevation Capital and Spring Canter Investment. The company is backed by a total of 7 investors, including Elevation Capital, which has participated in multiple funding rounds.
Rivigo's journey in securing investments highlights its appeal to prominent investors and its potential for growth in the logistics sector. Keep reading to explore the intricacies of Rivigo's fundraising journey and the investors backing this innovative platform.
What Is Rivigo?
Rivigo is a technology-enabled logistics platform provider based in Gurgaon, Haryana, India. The company operates in various industries, including automotive, freight service, logistics, shipping, and transportation.
Founded with the vision to transform the logistics sector, Rivigo has grown significantly, employing between 1001 and 5000 people. The company has successfully raised funding through multiple rounds, with the latest being a Series H round.
How Much Funding Has Rivigo Raised?
- Series B
- Amount Raised: $30,000,000
- Date: December 2015
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Series C
- Amount Raised: $75,000,000
- Date: October 2016
- Lead Investors: Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and logistics capabilities.
- Debt Financing
- Amount Raised: INR 1,000,000,000
- Date: March 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet short-term financial needs.
- Series D
- Amount Raised: INR 3,225,000,000
- Date: January 2018
- Lead Investors: Elevation Capital, Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion.
- Series E
- Amount Raised: $65,000,000
- Date: July 2019
- Lead Investors: Elevation Capital, Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance logistics infrastructure.
- Series E
- Amount Raised: INR 352,500,000
- Date: September 2019
- Lead Investors: KB Global Platform Fund
- Valuation at Round: $1.05 billion
- Motivation Behind the Round: To achieve unicorn status and expand operations.
- Series F
- Amount Raised: INR 1,417,000,000
- Date: December 2019
- Lead Investors: SAIF Partners, Spring Canter Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology.
- Debt Financing
- Amount Raised: $3,400,000
- Date: January 2020
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet short-term financial needs.
- Series G
- Amount Raised: INR 844,000,000
- Date: November 2020
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth.
- Series H
- Amount Raised: $2,000,000
- Date: August 2022
- Lead Investors: Elevation Capital, Spring Canter Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth.
Total Amount Raised: $175,400,000. Current Valuation: $1.05 billion.
Key Investors
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that focuses on early-stage and growth-stage investments. The firm has been actively involved in multiple funding rounds for Rivigo, including the Series H round.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Swiggy, Paytm, UrbanClap.
- Spring Canter Investment
- Details: Spring Canter Investment is an affiliate of Warburg Pincus, a global private equity firm. They have participated in several funding rounds for Rivigo, including the Series H and Series F rounds.
- Investment Focus Areas: Logistics, technology, healthcare.
- Notable Investments: Bharti Airtel, ICICI Lombard.
- SAIF Partners
- Details: SAIF Partners is a leading private equity firm that invests in early-stage and growth-stage companies. They were a key investor in Rivigo's Series F round.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Paytm, MakeMyTrip.
- Trifecta Capital
- Details: Trifecta Capital is a venture debt firm that provides funding to growth-stage companies. They provided debt financing to Rivigo in January 2020.
- Investment Focus Areas: Debt funding, growth-stage companies.
- Notable Investments: BigBasket, UrbanClap.
- KB Global Platform Fund
- Details: KB Global Platform Fund is the investment arm of South Korea-based KB Financial Group Inc. They helped Rivigo achieve unicorn status with their investment in September 2019.
- Investment Focus Areas: Technology, financial services.
- Notable Investments: Not publicly disclosed.
What's Next for Rivigo?
Rivigo stands at the cusp of significant growth opportunities, driven by its extensive logistics network and diverse sector coverage. With over 250 processing units and more than 70 pit stops, the company is well-positioned to expand its services across ecommerce, pharmaceuticals, and FMCG sectors. This vast operational capacity opens doors for potential acquisitions by major players like Flipkart and FirstCry, further solidifying Rivigo's market presence.
Future fundraising appears promising, given Rivigo's successful track record and ongoing strategic discussions. The company’s ability to attract substantial investments from prominent firms like Elevation Capital and Warburg Pincus underscores its potential for continued financial backing. However, Rivigo must navigate challenges such as intense competition and operational complexities to maintain its growth trajectory.
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