Logistics startup Ripplr raises $40M in Series B round
Consumer-focused venture investment fund Fireside Ventures led the $40 million funding round for Bengaluru-based startup Ripplr, a tech-enabled distributor of FMCG goods. Along with previous investors 3one4 Capital, Zephyr Peacock, and Japanese conglomerate Sojitz Corporation, the round also included new investors such as snack manufacturer Bikaji and sauce and dip producer Neo Foods.
Stride Ventures, Alteria Capital, Northern Arc Investments, and Trifecta Capital are some of the debt investors. The co-founder of Ripplr, Santosh Dabke, stated that only about $12 million is in debt and the rest is equity. He claimed that because these businesses are also clients of Ripplr, the investment from Bikaji and Neo Foods is of a strategic nature.
"Bikaji's has a strong presence in the north of India, and we have a strong presence in the south. They would want to leverage our capabilities to strengthen their presence here," said Dabke. A larger workforce will be hired and other cities outside of south India will be covered by the new funds. Ripplr, a company founded in 2019, provides brands with a plug-and-play service for distributing their goods to kirana retailers. It claims to be operationally profitable and has operations in 12 cities.
Ripplr had previously raised $12 million in a funding round from the Japanese company Sojitz Corporation and Stride Ventures in December 2021 using a combination of equity and loans. According to Dabke, Ripplr generated nearly Rs 900 crore in income in FY23. Although the company also engages in sector-neutral logistical activities, Dabke claimed that the distribution business accounts for around 90% of the company's revenue.
The technology used by Ripplr enables AI-based forecasts and judgements, effective loading and routing choices, real-time inventory tracking, and purchasing trends. For both brands and retailers, it uses predictive analytics to manage demand and inventory.
Multiple investors have supported Ripplr, which has so far raised $56 million in total. 24 warehouses across Bengaluru, Hyderabad, Chennai, Delhi-NCR, Mumbai, Pune, and tier-2 cities make up its distribution network, which serves more than 80,000 retailers. It collaborates with FMCG companies like, among others, HUL, Britannia, ITC, Nestle, Mondelez, Colgate Reckitt Benckiser, Godrej, Dabur, and Nivea.
"After D2C brands build a strong customer franchise, we notice an increasing focus on offline expansion. Such D2C brands will benefit greatly from Ripplr's plug-and-play strategy, according to VS Kannan, cofounder and partner at Fireside Ventures. In the market, among others, Udaan, supported by Lightspeed Venture Partners, Reliance JioMart Partners, Shopkirana, Elastic Run, supported by SoftBank, and ApnaKlub, supported by Tiger Global, are rivals of Ripplr.
Stride Ventures, Alteria Capital, Northern Arc Investments, and Trifecta Capital are some of the debt investors. The co-founder of Ripplr, Santosh Dabke, stated that only about $12 million is in debt and the rest is equity. He claimed that because these businesses are also clients of Ripplr, the investment from Bikaji and Neo Foods is of a strategic nature.
"Bikaji's has a strong presence in the north of India, and we have a strong presence in the south. They would want to leverage our capabilities to strengthen their presence here," said Dabke. A larger workforce will be hired and other cities outside of south India will be covered by the new funds. Ripplr, a company founded in 2019, provides brands with a plug-and-play service for distributing their goods to kirana retailers. It claims to be operationally profitable and has operations in 12 cities.
Ripplr had previously raised $12 million in a funding round from the Japanese company Sojitz Corporation and Stride Ventures in December 2021 using a combination of equity and loans. According to Dabke, Ripplr generated nearly Rs 900 crore in income in FY23. Although the company also engages in sector-neutral logistical activities, Dabke claimed that the distribution business accounts for around 90% of the company's revenue.
The technology used by Ripplr enables AI-based forecasts and judgements, effective loading and routing choices, real-time inventory tracking, and purchasing trends. For both brands and retailers, it uses predictive analytics to manage demand and inventory.
Multiple investors have supported Ripplr, which has so far raised $56 million in total. 24 warehouses across Bengaluru, Hyderabad, Chennai, Delhi-NCR, Mumbai, Pune, and tier-2 cities make up its distribution network, which serves more than 80,000 retailers. It collaborates with FMCG companies like, among others, HUL, Britannia, ITC, Nestle, Mondelez, Colgate Reckitt Benckiser, Godrej, Dabur, and Nivea.
"After D2C brands build a strong customer franchise, we notice an increasing focus on offline expansion. Such D2C brands will benefit greatly from Ripplr's plug-and-play strategy, according to VS Kannan, cofounder and partner at Fireside Ventures. In the market, among others, Udaan, supported by Lightspeed Venture Partners, Reliance JioMart Partners, Shopkirana, Elastic Run, supported by SoftBank, and ApnaKlub, supported by Tiger Global, are rivals of Ripplr.
.jpg "Innovating Legal Solutions to Safeguard your Business")
