The Indian Wire » Startups » Rivigo secures ₹25 crores in debt funding from Trifecta Capital
Startups

Rivigo secures ₹25 crores in debt funding from Trifecta Capital

Gurugram-based logistics startup Rivigo has raised ₹25 crores in debt funding round from Trifecta Capital, reported Inc42. The funding comes months after Rivigo joined the coveted unicorn club.

According to the report, Rivigo has issued 250 non-convertible debentures worth 10 lakh each amounting to ₹25 crores to Trifecta Capital.

Earlier in December 2019, it was reported that Rivigo had raised $20 million in Series F funding from SAIF Partners and Spring Canter Investment Ltd.

Founded by Gazal Kalra and Deepak Garg in 2014, Rivigo is a technology startup transforming the Indian logistics sector through its innovative relay trucking model combined with its cutting edge technology to make logistics faster, safer and cost-effective.

The startup boasts of having a fleet of over 5,000 trucks and claims to deliver across nearly 30,000 pin codes in 4,000 cities in India.

Till date, Rivigo has raised $250.5 million across multiple funding rounds from marquee investors like Trifecta Capital, SAIF Partners, Warburg Pincus and InnoVen Capital, among others.

Other logistic startups competing with Rivigo in the space include BlackBuck, Delhivery, Blowhorn, Shadowfax, Locus, among others.

Trifecta Capital is New Delhi-based venture debt fund investing across domains like ecommerce, healthcare, enterprise, and consumer products and services. The fund has over 40 startups in its portfolio including BigBasket, CarDekho, CureFit, Livspace, Ninjacart, and PharmEasy, among many others.

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