After achieving its unicorn tag in September this year, Rivigo, a logistics startup, is now aiming to get EBITDA (Earnings before interest, tax, depreciation, and amortization) profitability in March 2019, cited Inc42.
Rivigo said that it has included INR 300 crore to its revenue for FY19, registering a 45 per cent annual growth in 2018.
The Gurugram-based startup further stated that apart from a significant portion of profit moving towards development, building infrastructure capacity, and automation, Rivigo’s non-operating expenses have increased to INR 813 crore.
Rivigo was founded by Gazal Kalra and Deepak Garg in 2014. The company owns and operates over 2,100 trucks and has a pan-India network across 150 locations.
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.
For details: Logistics startup Rivigo begins driver relay model ‘RaaS’ for fleet owners, truck pilots
At that time, during the launch of its relay model, Gazal Kalra, cofounder, Rivigo, had said, “Through Relay as a Service we directly address the inefficiencies in trucking, solve for the challenges faced by small fleet owners while providing a better customer service. It is a necessary step towards becoming a profitable company that looks at a business model that not only adds to the topline but bottomline and elevates the quality of service to an industry benchmark.”
Rivigo stands with other logistics startups in the startup domain including Delhivery, BlackBuck, Locus, Locanix, ElasticRun, and many more.