Rivigo raises $30 mn from SAIF Partners, others

NEW DELHI: Logistics platform Rivigo has raised $30 million (about Rs 198 crore) from SAIF Partners and other investors.

The Series B round of funding, led by SAIF Partners, was a mix of equity and debt financing, SAIF Partners said in a statement.

Founded in 2014 as TrucksFirst, Rivigo aims to leverage the raised capital to achieve its target of scaling 10 times in the next 12 months, it added.

Rivigo provides services to clients across verticals like eCommerce, FMCG, auto, pharma and the cold chain space.

"The tech-enabled logistics space in India is robust and has tremendous potential. We also anticipate greater growth for this segment in view of the impending GST Bill. Rivigo has immense scope to serve the large opportunity space with its unique business model," SAIF Partners India Managing Director Deepak Gaur said.

Deepak Garg, founder and CEO of Rivigo, said the company will use the proceeds from this round to ramp up its operations.

"We'll also be focussing on expanding the technology team to add IoT, automation and data sciences," he added.