Bengaluru-based Ripplr, a tech-enabled distribution and logistics ecosystem platform, has raised $12 million in Pre-Series B funding round with a mix of equity and debt. The round also saw participation from Japanese conglomerate Sojitz Corporation and Stride Ventures.
Existing investors 3one4 Capital, Zephyr Peacock India Growth Fund and Chand Family Office – Yukti also participated. The company had raised $3 million earlier this year.
Ripplr offers a technology platform for authorised dealers of large consumer brands, for tracking their business metrics, finance options, analytics and operational support. While there are multiple players in the supply chain ecosystem for the massive Indian consumer goods business, there is no organised technology player across the various legs of the system.
Abhishek Nehru and Santosh Dabke, Co-founders of Ripplr, in a statement, said, “We are delighted to have a successfully closed our Pre-Series B round despite the challenges of the pandemic. With our new model for the FMCG distribution and retail sector, we are in the process of disrupting traditional channels. Our AI/ML-based distribution platform bridges the gap between brands and unorganised retail, solving for both distribution and information asymmetry.”
The funds will be used to scale the business into new geographies and build robust tech capabilities including product development, attracting new talent. The company will continue to focus on providing sophisticated distribution solutions and stretching boundaries.