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The funds will go into hiring and scaling up its investments in IoT, automation and data sciences

Rivigo Services, a technology-enabled logistics company in India, has secured US$75 million from global Private Equity firm Warburg Pincus, in one of the largest founding rounds this year, according to a report by The Economic Times.

The funds will go into hiring and scaling up its investments in IoT, automation and data sciences, Rivigo Co-founder Deepak Garg was quoted as saying by the newspaper.

Started in 2014 by Garg and Gazal Kalra, Rivigo is a technology-enabled surface logistics provider headquartered in Gurgaon. The startup claims to provide hassle-free services for companies in the e-commerce, pharma, auto, cold chain, FMCG and white goods sectors.

The firm has over 40 pit stops network spread across the country, and provides real-time vehicle visibility, GPS logs of currently running vehicles and closed trips, besides real-time analytics.

Rivigo claims that with its servcies, the clients are able to leverage 50 per cent to 70 per cent reduced turn-around time. Against the average distance of 15 km per hour by the industry, its trucks can cover 40-plus km in an hour. This enables the company to provide better services on Indian road conditions, overcoming delays at numerous checkpoints across 29 states in the country, claims the firm.

The company also plans to increase its truck fleet size to around 5,000 over the next 12 months from 1,500, currently.

Image Credit: prudek / 123RF Stock Photo

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