Rivigo is a technology-based logistic company that ensures improving the material movement pipeline of India and making the life of humans cost-effective, faster, and safer. It has been the most significant and fastest-growing technology in India. It specializes in cargo services, supply chain, shipment, logistics, 3PL, freight, cold chain, third party logistics, express cargo, full truckload, and trucking. It also makes sure that every truck- drivers and pilots lead a life of joy with dignity. It was founded by Deepak Garg and Gazal Karla in 2014 and is headquartered in Gurgaon, Haryana.
Note : Rivigo has Two mobile apps named Rivigo Freight and Rivigo Labs.
Rivigo Startup: Beginning of the Idea from an NGO
Rivigo is a logistic company that was the first to transform into a global first-driver model into a strong technology, culture, data, and operations which aims at providing a delivery time to clients. Starting in 2014, Deepak Garg used to work at an NGO. However, one day when he conversed with one of the truck- drivers, he got to know about the struggles they face.
So, he decided to talk to the owner of the Driver, and he got to know that he was not aware of his business and was very hopeless about it. Therefore, this issue stroked his mind, and he decided to plan a business along with Ghazal Kalra. After analyzing the problems and difficulties, they both managed to send the drivers home every day, and this is how the picture of this revolutionary change came into his mind.
Rivigo: Key points
- Company Name : Rivigo
- Founded : 2014
- Founders : Deepak Garg and Gazal Kalra
- Type of sector : Logistic
- Revenue : 1028 Crore Rupees
- Headquarters : Gurgaon, Haryana
- Website : www.rivigo.com
Rivigo : Founders and Team
- Deepak Garg Deepak Garg is the founder and CEO of Rivigo. He has a master's degree in Business Administration from IIM, Lucknow in 2006 and a Bachelor's degree in Technology from IIT, Kanpur, in 2003. He has the main focus on complex data-driven problems and issuing resolutions. He was a former employee at McKinsey & Co from 2006 to 2014 and had great experience working with a large group of people and can hire a world-class team.
- Gazal Kalra Gazal Kalra is the Co-founder of Rivigo. She pursued her MBA from Standford University Graduate School of Business and has a master's degree in Public Administration from the Harvard Kennedy School of Government. Besides, that she is also an alumnus from IIT- Delhi. She was a former consultant at the World Bank Group and a member of Lok Sabha for two years.
Rivigo : Competitors
The competitors of Rivigo include:
Rivigo : Funding and Investors
Rivigo is funded by over 7 investors. The most recent ones are Elevation Capital and Trifecta Advisors. It has raised a fund of about $268.7 million in over 11 rounds.
|Date||Amount||Name of the Investor||Rounds|
|December 1, 2015||-NA-||Trifecta Capital Advisor||Debt Financing|
|December 17, 2015||$30 million||Elevation Capital||Series B|
|October 6, 2016||$ 75 million||Warburg Pincus||Series C|
|March 8, 2017||Rs. 1 billion||-NA-||Debt Financing|
|January 12, 2018||Rs. 3.2 billion||Elevation Capital||Series D|
|July 10, 2019||$ 65 million||Elevation Capital and Warburg Pincus||Series E|
|September 25, 2019||$ 4.9 million||KB Global Platform||Series E|
|January 6, 2020||$3.4 million||Trifecta Capital||Debt Financing|
|January 7, 2020||Rs. 250 million||Trifecta Capital Advisor||Debt Financing|
|November 2, 2020||Rs. 844 million||Elevation Capital||Series G|
Rivigo : Business Model
The business model of Rivigo is to handle the truck drivers to a designated pit and to handle the routes so that they return home safely. The startup has a record of a 5% increment in revenue in the year 2020 and had total revenue of over INR 1080 crore in FY20 versus INR 1028 in FY19.
Rivigo Startup : Challenges Faced
- Monitoring Rivigo has created a large number of networks of over 70 pit stops which drive over a distance of around 250 km or around five hours to stop. But it goes on so that the team has to monitor the mechanism.
- Hiring Another major problem is that the company has to hire perfect drivers for the job, which requires a huge amount of money and a stable HR process.
- Management Another major issue faced is the handling of the pilot truck, i.e., the pilot who handles the truck has to board another truck repeatedly when a truck comes in the opposite direction.
Rivigo : Future Plans
- The startup aims at increasing the supply of vehicles and employing more and more people to their company
- They also allow their employees to buy vehicles for the first mile, last mile, and regional operations.
Rivigo : Growth Numbers
- The company had extensive growth over the years. The company runs over thousands of vehicles per day.
- It has improved the service and has brought a great change in society.
- It has risen over a fund of $65 million.
- It has created an NFI (National Freight Index).
- It owns about 3000 fleets of trucks.
- It has established over a network of 70 pit stops and 200 branches.
Rivigo : The Safest and The Fastest Cargo Service in India
The unique model of truck relay makes the company one of the fastest-growing automobile sectors. It changed the lives of so many truck drivers. It changed the route of logistics by introducing the trucking and relay model innovatively. India ranked 54th position in the World Bank's Logistics Performance Index in the year 2014. It played a significant role in helping India gained the 35th position after two years it was launched.