Gurugram-Based Logistics Startup Rivigo Witnesses 5% Growth In Revenue In FY20
Rivigo, a Gurugram-based logistics startup, has recorded a 5% increase in its revenue in FY2020.
First reported by Inc42, the logistics startup reported a revenue of Rs 1,080 Cr in FY2020 compared to INR 1,028 in FY2019.
For the same period, Rivigo’s expenses grew 5% from Rs 1,532 Cr in 2019 to Rs 1,622 Cr in 2020, leading to a 6% increase in losses to Rs 541 Cr from Rs 511 Cr. Rivigo’s operational revenue also grew from Rs 1,002 Cr to Rs 1,054 Cr.
Started by Gazal Kalra and Deepak Garg in 2014, Rivigo works on the relay model of trucking and the use of technology.
The logistics startup offers pan-India delivery services to pharmaceutical, automobile, eCommerce, cold-chain and FMCG companies, covering more than 29K pin codes in India.
To date, Rivigo has raised $268.7 Mn in funding from marquee investors like Trifecta Capital Advisors, Elevation Capital, Warburg Pincus, KB Global Platform Fund and others.
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