Ripplr raises $40mn in series B funding round

Home
Industry News
Ripplr raises $40mn in series B funding round

Ripplr raises $40mn in series B funding round

Industry News
May 16,23

Bangalore-based tech distribution and logistics startup, Ripplr has raised $40 million in a Series B round of funding. The company will utilise the funds to strengthen its supply chain tech platform, grow its team, and expand into newer geographies.

Ripplr raises $40mn in series B funding round

Ripplr, a Bangalore-based tech distribution and logistics platform has announced that it has raised $40 million in a Series B round from new and existing Investors. The round was led by Fireside Ventures. The fundraising also saw participation from new investors Bikaji and Neo Foods along with existing investors 3one4 Capital, Zephyr Peacock and Japanese conglomerate Sojitz Corporation. The funds will be utilised to fortify its tech platform, for team expansion, and to build a pan-India presence. The round also witnessed debt participation from Strides Ventures, Alteria Capital, Northern Arc Investments and Trifecta Capital.

Set up in 2019, Ripplr is a plug-n-play integrated distribution network offering Distribution as a Service (DaaS) to Brands managing and digitising operations, helping create visibility and reach with a management layer for the supply chain.

In the quest to build and scale up an asset-light, tech-enabled FMCG distribution network, Ripplr had earlier raised $12 million in a funding round with a mix of equity and debt from Japanese firm Sojitz Corporation and Stride Ventures in December 2021. The company has grown exponentially in last four years scaling business across 12 cities and is operationally profitable.

Abhishek Nehru and Santosh Dabke, Co-founders, of Ripplr, said, “The funding is an indicator of the company's 'strong unit economics' and validation of our business model. Each Indian state is like a country having multiple dimensions on buying patterns, price points, and consumer sentiments. Our goal is to stitch this multi-dimensional gap, helping distributors and retailers in connecting with brands. With this round, we are aiming to increase our geographical footprints in India to solve the reach and visibility complications faced by all the FMCG brands in offline distribution and supply chain. At Ripplr, we aim at becoming one of the trusted long-term partners for brands, distributors, and Kirana stores by building an omnichannel model to optimise supply chain inefficiencies.”

VS Kannan Sitaram, Co-Founder, and Partner, of Fireside Ventures said, “There is an increasing focus on offline expansion that we see with D2C brands after they acquire a strong consumer franchise. Ripplr’s plug-n-play model will work superbly well for such D2C brands. We at Fireside Ventures believe that there is a massive untapped potential in plug-and-play retail and are certain that Ripplr’s distribution platform operating at scale across the country will unlock the potential in the offline retail space.”

The Indian FMCG business is one of the fastest-growing markets globally. The Indian Economy is also growing healthily at 7-8 per cent annually, with a population of 1.4 billion consumers. Ripplr would like to evolve as a futuristic omnichannel tech platform to make both distributors and retailers ready for front-end business scaling and optimisation of backend efficiencies.