Logistics startup Ripplr's loss widens to Rs 89 Cr, revenue rises 39% in FY24
Ripplr reported a revenue of Rs 1,032.43 crore in FY24 compared to Rs 724.44 crore in 2023. However, its losses rose 43.6% to Rs 89.15 crore from Rs 62.09 crore in FY23.
Distribution and logistics platform Ripplr has reported a 39% rise in revenue for the year ended March 31, 2024 at Rs 1,032.43 crore compared to Rs 742.44 crore in FY23. However, its losses widened to Rs 89.15 crore in FY24 from Rs 62.09 crore in FY23.
The company saw a 43% surge in revenue for its products distribution segment to Rs 938.54 crore along with a 6% rise in its supply chain and logistics segment in FY24.
The 43.6% rise in losses was due to a jump in total expenses for the period to Rs 1,121.58 crore compared to Rs 804.54 crore in the previous year. The company reported a significant rise in expenses related to purchases of stock-in-trade, employee benefit expenses, and finance costs during the year.
Founded in 2019, the AI driven startup offers plug-and-play integrated distribution platform for FMCG brands. It offers distribution-as-a-service and builds asset-light distribution networks.
The Bengaluru-based startup last raised $40 million in a Series B funding round from Alteria Capital, Stride Ventures and Trifecta Capital, among others.
According to an Inc42 report in July, the company is looking to raise Rs 40 crore in debt from non-banking financial company Northern Arc.
Edited by Swetha Kannan