UditLogistics startup, Rivigo has now secured $65 Million in the funding round led by some of the existing investors – SAIF Partners and Warburg Pincus.
This is the second funding round which is secured by the Gurgaon based company that has been led by the same two simultaneous investors and comes after around 20 months after it secured $50 Million equity financing in January last year.
“We continue on our mission to make logistics human and digital. Relay trucking is now very well established where relay truck pilots lead a better life, and customers gets exceptional service. With technology and freight marketplace, we now want to bring relay to every truck in the country,” Deepak Garg, chief executive of Rivigo, said in a prepared statement.
The latest funding round is a part of the Series E funding round, the company revealed in a statement. It will also be going to use the proceeds to further strengthen its technology and network coverage.
The development comes at a time when India’s technology-based logistics sector has been a hotbed of risk capital activity over the past few months, with the almost every major company which is operating in the space by raising substantial amounts of capital.
Source: Rivigo