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 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.
The competitors of Rivigo include:
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 |
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.
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.
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