Gurgaon-based logistics services provider Rivigo has raised Series D funding of $50-million (approx Rs 330 crore) from its existing investors Warburg Pincus and SAIF Partners, according to a report from VCCircle. The company has reportedly allotted 8,231 Series D compulsorily convertible cumulative preference shares, at Rs 2,53,765 per share, to SAIF Partners India for a total consideration of Rs 208.88 crore. And, 4,477 Series D compulsorily convertible cumulative preference shares to Warburg Pincus arm Spring Canter Investment for a total of Rs 113.61 crore, the Economic Times later confirmed citing information from research platform Tofler. Founded in 2014 by Deepak Garg and Gazal Kalra, Rivigo currently provides logistics to clients across verticals such as e-commerce, FMCG, automotive, retail and pharmaceuticals with features like GPS enabled live tracking, on the go analytics and paper-free billing etc. In November 2016, Rivigo raised $75 million from an affiliate of Warburg Pincus for a minority stake. Rivigo had previously raised $30 million and $9.6 million from SAIF Partners in December and May 2015, respectively. Logistics segment Logistics as a segment is gaining a lot of attention in recent past. There are many recent developments from players like Ecom Express, Locus, Delhivery, Loadshare, Blackbuck, and also NSE-listed Gati etc in this space. In October 2017, the government of India launched the International Tracked Packet service, which provides cross-border shipping for the e-commerce sector in the Asia-Pacific region. This service is provided by the Department of Post, and offer features like track & trace, volume discounts, pick up facility, and compensation for loss or damage. While there are a number of…
