Logistics startup Ripplr raises $40M in Series B round
Led by Fireside Ventures, the round saw participation from new investors Bikaji and Neo Foods along with existing investors 3one4 Capital, Zephyr Peacock and Japanese conglomerate Sojitz Corporation.
, a Bangalore-based distribution and logistics platform, on Wednesday, announced that it has raised $40 million in a Series B round from new and existing Investors.
Led by , the round saw participation from new investors Bikaji and Neo Foods along with existing investors , and Japanese conglomerate . The round also witnessed debt participation from , , and .
The company will use the funds to scale its tech platform, expand its team, and build a pan-India presence, it said in a statement.
“There is an increasing focus on offline expansion that we see with D2C brands after they acquire a strong consumer franchise. We believe that there is a massive untapped potential in plug-and-play retail and are certain that Ripplr’s distribution platform operating at scale across the country will unlock the potential in the offline retail space,” said VS Kannan Sitaram, Co-founder, and Partner at Fireside Ventures.
Founded in 2019, Ripplr offers Distribution as a Service (DaaS) to brands. It helps companies manage and digitise operations, and create visibility and reach with a management layer for the supply chain. The latest round takes the total funding raised by the company to $56 million to date.
"With this round, we are aiming to increase our geographical footprints in India to solve the reach and visibility complications faced by all the FMCG brands in offline distribution and supply chain. We aim at becoming one of the trusted long-term partners for brands, distributors, and kirana stores by building an omnichannel model to optimise supply chain inefficiencies,” said co-founders Abhishek Nehru and Santosh Dabke.
Ripplr claims to have 24 warehouses in its distribution network across cities servicing 80,000+ retailers. It provides services to FMCG brands like HUL, Britannia, ITC, Nestle, Mondelez, Colgate Reckitt Benckiser, Godrej, Dabur, and Nivea among others.