Gurgaon-based data science-backed logistics services provider TrucksFirst Services Pvt Ltd, which operates under the brand name Rivigo has raised Series B round tune of $30 million with equity and debt financing. The investment was led by SAIF Partners. The platform aims to leverage the raised capital to achieve its target of scaling 10 times in the next 12 months.
The funs raised would be used to achieve its target of scaling 10 times in the next 12 months, it said in a statement. It last raised close to $10 million from SAIF Partners in May. Previous to that, the angel round of the company saw investors like Singapore Post.
Founded in 2014 as TrucksFirst by Deepak Garg and Gazal Kalra, Rivigo provides services to some major industry verticals such as e-commerce, FMCG, Auto, Pharma and the Cold Chain space.
Deepak Garg, founder and CEO of Rivigo. “We’ll be using the proceeds from this round to ramp up our operations. We’ll also be focusing on expanding the technology team to add IOT, automation and data sciences,”
The logistics platform provides delivery services at a pan-India level including otherwise difficult geographies such as the North East and Eastern parts of India.
Similar competetor BlackBuck, a business-to-business logistics startup, recently raised $25 million in Series B funding from Tiger Global and other investors.