Rivigo, a logistics startup is reportedly all set to secure $20 million (approx INR 141.97 crore) in its series F round of funding from SAIF Partners India VI and Spring Canter Investment Ltd, cited Mint.
The platform Rivigo claims to be valued at $1.1 billion in September this year.
It offers pan-India delivery services to ecommerce, pharmaceutical, automobile, cold-chain and fast-moving consumer goods companies. The company said it covers more than 29,000 pin codes in India.
While, in August 2019, Rivigo started a driver relay model ‘RaaS’ to fleet owners and truck pilots in India.
As per its LinkedIn page, the startup Rivigo claims to own an innovative relay trucking model under which a truck driver hands over the vehicle to another driver at a designated pit stop, thereby ensuring that the truck is not idle at any point during the journey.
It also ensures drivers are behind the wheel for a maximum of four to five hours at a stretch and reach home the same day.
Furthermore, as per the report by Nasscom, approximately 60 per cent of 2019’s unicorns are from emerging sectors such as gaming, automotive and supply chain/logistics.