With its motto “Making logistics Human”, Rivigo is a technology company with its unlisted shares available for purchase on the Minance Private Market.
Started as Trucks First and later renamed as Rivigo, the company is a technology-enabled logistics company that claims to lower transmit time in deliveries by almost 50-70%.
Rivigo was founded by Mr Gazal Kalra and Mr Deepak Garg in the year 2014. The company works on the ‘Relay trucking’ model.
It plans to transform the logistical picture in the country and make it more human, efficient, faster, value for money, and safer. It uses a relay system to ensure the smooth functioning of truck drivers’ 24-hour shifts without interruption.
By the use of technology and investing more in the development of its unique relay-trucking, the company wants to achieve operational and technological excellence, and unparalleled business having unlisted shares.
In 2019, the company reached a validation of $1.1 billion, which is huge for a logistical company having its unlisted shares in the market. In the same year, Rivigo raised ₹141.97 crores from its existing investors SAIF Partners India VI Ltd and Spring Canter Investment Ltd. Preference shares numbering 5,086 were issued to these investors by the end of 2019.
Furthermore, it also raised another $65 million from Warburg Partners and SAIF Partners. It gained the topmost position in the supply chain/logistics domain in India after an investment of $4.9 million from South Korea’s KB Global Platform Fund. The numbered company in the logistics industry in India, having its unlisted shares available is an investment worthwhile.
Rivigo’s revenue rose to ₹1,028 crores. The company increased its fleet size by 50% post the investments and added 1,000 trucks over the fiscal year of 2019, making its fleet size a total of 3000 trucks. It has operations running in pan-India and serves in 29,000 pin codes and further plans to expand to 5000 codes.