Rivigo

Mahindra Logistics on Monday announced the acquisition of the B2B express business of Gurugram-based logistics firm Rivigo Services, which will help the company accelerate its capabilities in this space. Mahindra Logistics Ltd (MLL) will acquire the express business through a business transfer agreement (BTA), including the customers, team and assets of Rivigo's B2B express business and its technology platform, Mahindra Logistics said in a statement. Rivigo, however, will continue to own its truck fleet and the rights to the full truck load (FTL) operations. Rivigo operates a pan-India B2B express network with a robust client base and a full-service technology suite. Its express network currently covers over 19,000 PIN codes across the country through over 250 processing centres and branches, spanning more than 1.5 million sq ft. "This will add significant strength to Mahindra Logistics' express business capability," the company said. B2B express logistics continues to see strong

The firm's total expenses for the fiscal rose 5 per cent to Rs 1,622 crore

Rivigo was started in 2014 by McKinsey alumnus Deepak Garg and Gazal Kalra

Rivigo is working on building a RaaS to bring benefits of its disruptive relay trucking model

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

Sector experts like Rivigo's business model but think that scalability can be an issue as procuring trucks is very capital intensive

Rivigo has about eight thousand truck drivers, whom Rivigo calls pilots, on its contract to run its fleet of almost 5,000 trucks

Company to buy 1,200 vehicles in largest deal by any surface transport firm, ramp up its pan-India fleet by 80%

The company is aiming to have the largest fleet in the industry