31 C
Sunday, June 4, 2023

Ripplr gets $40M to expand its FMCG logistics business

- Advertisement -

Ripplr, a tech-enabled distributor of fast-moving consumer goods (FMCG) products based in Bengaluru, has successfully secured $40 million in funding in a round headed by the consumer-focused venture investment fund Fireside Ventures.

In addition to the existing investors 3one4 Capital, Zephyr Peacock, and the Japanese conglomerate Sojitz Corporation, the round included participation from new investors such as the snack manufacturer Bikaji and the sauce and dips manufacturer Neo Foods.

Stride Ventures, Alteria Capital, Northern Arc Investments, and Trifecta Capital are some of the companies that have invested in the debt. Santosh Dabke, cofounder of Ripplr, told ET that roughly $12 million is in the form of debt, while the remainder is stock. He stated that the investment from Bikaji and Neo Foods is strategic in nature due to the fact that both of these businesses are also Ripplr’s customers.

Dabke said, “They would want to take advantage of our capabilities to bolster their presence here,” said. “We could provide that for them.” We have a strong presence in the southern region of India, while Bikaji’s has a strong presence in the northern region.”

The newly acquired funds will be put to use in expanding into additional cities outside of south India as well as increasing personnel levels.

Established in 2019, Ripplr provides a plug-and-play service to help brands in the distribution of their products to grocery stores. It claims to be operationally profitable in spite of  operating in 12 Indian cities.

Ripplr had previously been successful in raising $12 million in a funding round that included a combination of stock and debt in December 2021 from the Japanese company Sojitz Corporation and Stride Ventures. According to Dabke, Ripplr had approximately Rs 900 crore in revenue during the fiscal year FY23.

According to Dabke, approximately ninety percent of the company’s revenues come from the distribution business. Despite the fact that the company is also involved in the sector-agnostic logistics business.

The technology developed by Ripplr makes it possible to make AI-based predictions and decisions, as well as decisions regarding efficient loading and routing, live inventory tracking, and buying patterns. It utilizes predictive analytics to effectively manage demand and inventory on behalf of merchants and brands alike.

Ripplr has garnered the support of a number of investors and has amassed a total of $56 million in funding thus far. More than 80,000 shops are serviced by its distribution network’s 24 warehouses, which are located in Bengaluru, Hyderabad, Chennai, Delhi-National Capital Region, Mumbai, and Pune, as well as tier-2 cities.

It collaborates with fast-moving consumer goods companies like as HUL, Britannia, ITC, Nestle, Mondelez, ColgateReckitt Benckiser, Godrej, Dabur, and Nivea, amongst others.

“After a direct-to-consumer company has established a solid consumer franchise for themselves, we notice that they place a greater emphasis on offline expansion.” Ripplr’s plug -n-play model will work phenomenally well for such D2C brands,” said VS Kannan, cofounder and partner at Fireside Ventures.

Ripplr is up against competition in the form of companies such as Udaan, which is supported by Lightspeed Venture Partners, RelianceJioMart Partners, Shopkirana, Elastic Run, which is backed by SoftBank, and ApnaKlub, which is backed by Tiger Global.

Taushif Patel
Taushif Patelhttps://taushifpatel.com
Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

Related Articles

Latest Articles