Ripplr, a Bangalore-based tech distribution and logistics platform, has raised $40 million ($28 million in exchange for equity and $12 million in debt) in its Series B round from new and existing Investors.
Launched in 2019 by Abhishek Nehru and Santosh Dabke, Ripplr is a plug-and-play integrated distribution network which offers distribution as a service (DaaS) to brands. It helps them in creating visibility and enhances their reach. The company claims it has grown exponentially in the last 4 years scaling business across 12 cities and is operationally profitable.
The fresh funding comes at a time when investors are tightening their purse strings and backing players who demonstrate a path towards profitability. It follows a $12 million equity and debt round from Japanese firm Sojitz Corporation and Stride Ventures in December 2021.
The Bengaluru-based startup said it will use the $40 million to strengthen its tech platform, expand its team size and reach newer locations in the country. The company did not comment on its valuation.
The startup says its goal is to stitch this multi-dimensional gap between buying patterns, price points, and consumer sentiments, by helping distributors & retailers in connecting with brands. It also aims to increase its geographical footprints in India to solve the reach and visibility complications faced by all the FMCG Brands in offline distribution and supply chains.
The round was led by Fireside Ventures, while other investors such as Bikaji and Neo Foods along with existing backers like 3one4 Capital, Zephyr Peacock and Japan-based Sojitz Corporation, also participated in the round.