 "Rivigo raises $65 million from Warburg Pincus and SAIF Partners")
Rivigo, a technology-enabled logistics company, has raised a funding of $65 million in the ongoing series E round led by existing investors Warburg Pincus and SAIF Partners.
The company plans to utilise the money to further strengthen its technology and network coverage. Rivigo has a network coverage with more than 29000 pin codes in India.
In the $150-160 billion Indian road freight market, Rivigo's technological prowess and relay trucking model has ensured the company creates significant value for the sector, says Deepak Garg, Founder and CEO, Rivigo.
The platform has nearly 100,000 trucks in its platform. The company claims it has increased the utilisation of the trucks by around 40-50 per cent. Three major things which the company address is price discovery, demand generation and asset maintenance.
It caters to e-commerce, FMCG, auto, pharma and the cold-chain space. With a large network of company-owned trucks, Rivigo offers line-haul solutions, and claims to lower transit time by 50-70 percent compared to typical operators.
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