Logistics company Rivigo has received funding worth USD 75 million (about Rs 500 crore) from an affiliate of private equity firm, Warburg Pincus for a minority stake.
This is the fourth and largest round of capital raised by the company, with previous capital coming from a number of investors including SAIF Partners and Singapore Post, Rivigo said in a statement.
Headquartered in Gurgaon, Rivigo was founded in 2014 by IIT-Kanpur alumni Deepak Garg. Its 'relay' operating model claims to reduce transit time of trucks by 50-70 per cent compared to typical truck operators.
The company currently owns and operates over 2,000 trucks and has a pan India network across 150 locations.
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