By Manish Singh
Rivigo, a tech startup in India that wants to build a more reliable and safer logistics network, has raised $65 million as major investors continue to place big bet on opportunities in overhauling trucking system in the country.
The Series E round, which has not closed, for the five-year-old startup was led by existing investors Warburg Pincus and SAIF Partners. The startup, which has raised more than $280 million to date, said it aims to be profitable by March next year.
Rivigo operates a tech platform that tracks and manages shipments and ensures that drivers are available at all times and trucks are as fully loaded as possible. The platform also automatically rotates drivers so that they can get enough rest and see their family while the trucks keep moving. Drivers use an app to navigate maps and accept assignments.
“Relay trucking is now very well established where relay truck pilots lead better life and customers gets exceptional service. With technology and freight marketplace, we now want to bring relay to every truck in the country,” Deepak Garg, founder and CEO of Rivigo, said in a statement.
Source: Tech Crunch