INSUBCONTINENT EXCLUSIVE:
Rivigo, a tech startup in India that wants to build a more reliable and safer logistics network, has raised $65 million as major investors
continue to place big bets on opportunities in overhauling the trucking system in the country.The Series E round (which has not closed) for
the five-year-old startup was led by existing investors Warburg Pincus and SAIF Partners
The startup, which has raised more than $280 million to date, said it aims to be profitable by March next year.Rivigo operates a tech
platform that tracks and manages shipments and ensures that drivers are available at all times and trucks are as fully loaded as possible
The platform also automatically rotates drivers so that they can get enough rest and see their family while the trucks keep moving
life and customers gets exceptional service
said in a statement.Rivigo, which competes with heavily backed startups such as BlackBuck, owns its own fleet of trucks while also operating
the largest reach in India, said it would use the fresh capital to further expand its network and tech infrastructure in the country
Financially, too, Rivigo has driven past many of its competitors
models to accurately predicting the life journey of a consignment to creating a dynamic pricing engine for the freight marketplace, the
remains one of the most inefficient sectors that continues to drag the economy.Last month, Rivigo launched National Freight Index that shows
live tariff rates for different lanes and vehicles in the country in a bid to bring more transparency to the ecosystem.
