Intelligent Retail Pvt. Ltd, which operates logistics and distribution startup Ripplr, has raised capital in a seed funding round led by early-stage venture capital firms 3one4 Capital and Sprout Venture Partners.
Abhishek Nehru, co-founder at Ripplr, said the company will use the funds to enhance its technological infrastructure, expand its distribution, technology and finance teams, Inc42 reported.
The Bengaluru-based startup, founded by Abhishek Nehru and Santosh D in June last year, says it is focussed on providing end-to-end logistics support to new-age brands using technology in an asset-light approach within existing infrastructures.
VCCircle has written to Ripplr on the details of the investment round and will update this report accordingly.
The business-to-business firm says it has so far registered an accounting rate of return (ARR) of around Rs 12 crore and that it is aiming to achieve an ARR of Rs 100 crore in the next 12 months. It is aiming to become a cost-effective, capital-light and risk-free distribution platform with a strong technological backend.
Ripplr’s platform provides artificial intelligence and deep learning-based analytics, end-to-end visibility, omnichannel enabling and intelligent distribution network provisioning, according to its website.
Deals in the logistics-technology segment
Investor interest in the logistics-technology segment has increased in recent months as startups seek to provide new-age services at scale and affordable prices. There are a number of logistics-tech ventures that have raised a large amount of capital.
These include SoftBank- and Carlyle-backed Delhivery, Warburg-backed Ecom Express and Goldman Sachs-backed BlackBuck.
In November last year, reports said Blackbuck raised Rs 56 crore (around $7.83 million) in a mixed equity and debt funding round from venture debt fund Trifecta Capital. In the same month, Info Edge (India) Ltd, which owns and operates portals such as job site Naukri.com, led a pre-Series A funding round in the digital logistics platform Shipsy.
In May, logistics management startup Locus raised $22 million (around Rs 196 crore) in its Series B funding round led by Falcon Edge Capital and Tiger Global Management LLC.