Udit
Rivigo has now secured $3.4 million in the debt funding round from Trifecta Capital. The Gurgram based startup, fundraise also comes close on the heels of its plans of securing INR 141.97 crore in the Series F round.
According to the report, the Rivigo has issued 250 Series B NCD to Trifecta Debt Fund worth of INR 1000000 each to secure fund.
The startup offers delivery services across India to ecommerce, retail, pharmaceutical, automobile and some other companies. It claims to have network coverage of more than 29000 PIN codes in India.
The startup which is founded by the Deepak Garg and Gazal Kalra, Rivigo had also revealed RaaS to offer the benefits of relay trucking to millions of fleet owners in India to address challenges of truck driver shortage in this space.
The startup claims to have improved its financial metrics across all business verticals and aims to be profitable by the end of this financial year. Adding up to the momentum, the startup as of now launched National Freight Index, in order to bring transparency to the largely unorganized logistics place.