Ripplr, a logistics and tech distribution platform, has secured USD 40 million in a Series B round led by Fireside Ventures and including new investors Bikaji and Neo Foods. Existing investors Zephyr Peacock, 3one4 Capital, and Japanese conglomerate Sojitz Corporation also participated.
Read: April 2023 Issue of Food InfoTech Magazine.
The round also witnessed debt participation from Trifecta Capital, Alteria Capital, Strides Ventures and Northern Arc Investments.
Ripplr would use the fresh funds to strengthen its tech and supply chain platform, expand its team and build a pan-India presence.
The four-year-old logistics and tech distribution platform offers a plug-and-play integrated distribution network offering DaaS (distribution as a service) to help brands manage and digitize their operations.
The company’s distribution network includes up to 24 warehouses across Bengaluru, Hyderabad, Chennai, Delhi-NCR, Mumbai, and Pune. It also caters to over 80,000 tier 2 retailers and has long-term collaborations with FMCG brands such as HUL, Britannia, ITC, Nestle, Mondelez, Colgate Reckitt Benckiser, Godrej, Dabur, and Nivea.
The Bengaluru-based startup has so far garnered $56 million in funding. This includes a $12 million equity and debt raise in December 2021 from Japanese companies Sojitz Corporation and Stride Ventures.
Ripplr claims to have grown exponentially in the last four years, expanding its operations to 12 cities. The company also claims to be operationally profitable.
While the company has not disclosed the numbers, Santosh Dabke, the Co-founder claims that Ripplr recorded a revenue of about INR 900 crore in FY23, of which 90% of the revenue came from the distribution business.
In FY22, Ripplr’s operating revenue jumped 5.8X to Rs 275 crore as compared to Rs 47.8 crore in FY21, according to the standalone financial statement with the RoC. The company’s losses surged 86.7% to Rs 9.09 crore in FY22 from Rs 4.87 crore in FY21.
Ripplr’s mission is to transform the Distribution sector through innovation, collaboration, and unwavering dedication to excellence.
