Rivigo raises $75 million of capital funding from Warburg Pincus

Rivigo, a surface transport logistics provider, has raised $75 million capital from Warburg Pincus in a Series C funding round. The funding will help the firm scale up its operations in the light of the passage of GST bill. It is poised to reap handsome benefits from the bill which is expected to lead to faster turnaround times, create pull-based supply chains and help in the re-configuration of warehousing and distribution networks. The company currently operates ~1,500 vehicles (employing 3000 drivers), and plans to enhance its truck fleet size to over 5,000 during the next 12 months.

Deepak Garg, Chief Executive Officer, Rivigo said that “This (funding) is going to be primarily utilized towards technology and hiring. We have to scale up our tech talent, investments in IoT, and automation and data sciences a lot more. We also have to build our next level of leadership cadre, given the growth we’re seeing.” Deepak co-founded the Gurgaon-based truck fleet operator with fellow McKinsey alumnus Gazal Kalra in 2014.

The company serves numerous sector such as ecommerce, frozen food, dairy, automotive, pharm etc. It has also developed algorithms and filed numerous patents in the field of fuel efficiency, pilferage, and relay system among others. Since inception, the firm has raised $41.5 million (excluding current round) in a mix of debt and equity from SAIF Partners, Singapore Post, Trifecta Capital, and a number of McKinsey senior executives.