Warburg Pincus, SAIF put more money in logistics startup Rivigo
6 Feb 2019 7:38 AM GMT
Logistics-technology firm Rivigo Services Pvt. Ltd has raised $35.6 million (around Rs 255 crore at current exchange rates) in
- The Gurugram-headquartered company secured this sum by issuing compulsory convertible preference shares (CCPS) to the private equity giant and multi-stage investment firm, show filings with the Ministry of Corporate Affairs (MCA).
- TechCircle estimates show that Rivigo raised the fresh capital at a valuation of $947.8 million (Rs 6,784.05 crore), a little more than $50 million short of the coveted unicorn status accorded to privately-held firms valued at $1 billion or more.
- Rivigo's competitor Blackbuck raised Rs 87.02 crore ($12.43 million) from existing investors in December, just two months after securing Rs 202.96 crore ($27.4 million) in a round led by new investor Sequoia Capital.
- Before that, tech-enabled logistics startup Freightwalla raised an undisclosed sum from venture capital firms Kae Capital and San Francisco-based Tekton Ventures.
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