Startup Story: Rivigo | Transforming Logistics In India
India is not just a country of 130+ Crore people, but it is a country of 130+ Crore dreams.
Many such dreams have helped India to be where it is on a global scale.
Today’s startup story is about one such dream. A dream that helped in improving many lives and made the startup a Unicorn.
Startup Story: Rivigo | Transforming Logistics In India
With time, the working of logistics in the industrial world and the global market has evolved a lot. Over the last decade, the evolvement of the logistics sector has led to an increase in the growth of logistics in India.
In 2014, India was ranked 54th in the logistics industry as per the Logistics Performance Index globally, the ranking jumped to 35th in the year 2018. Today, the Indian logistics industry is the most promising in terms of growth and revenue.
The value of the Indian logistics Industry is said to be around $160 Billion (in 2019 ) and it is forecasted to reach $250 Billion in the year 2020.
Many logistics startups have contributed to the growth of the logistics industry in India. One of those many startups is Rivigo.
Rivigo is a Gurugram-based logistics startup, which entered the elite unicorn club in 2019.
Rivigo Founders and Funding
This Gurugram-based logistics startup was founded by Gazal Kalra and Deepak Garg in 2014.
Rivigo has received a total funding of $268.7 Million.
How Rivigo was founded?
As per the founders, the idea of Rivigo came during a road trip.
“It all started with a road trip and listening to truck drivers; (with) realizing that they have been marginalized and looked at as outcasts, which needed to change”.
Rivigo is a logistics company that works on the relay model of trucking and the use of technology. The founders wanted to change the old Indian logistics way. In the traditional logistics way, a single driver travels for the entire distance of a particular delivery making few halts on the way for rest.
In the old model, delivering a consignment took over a week when delivering between cities like Delhi and Chennai or Bengaluru and Guwahati. This made drivers stay away from home and family for over 20 days a month.
That’s when the founders thought about changing the old model.
They came up with a method that ensures the drivers use only new covered trucks. On top of that, providing complete visibility to the client on a truck’s journey, and ensure that a truck can cover the distance between any two parts of India in less than three days.
Rivigo Present Situation
Rivigo is presently serving 29,000 pin codes in their LTL(Less-than-truckload shipping). The company has also increased its fleet size by 50%. With the addition of over 1,000 trucks over the fiscal year 2019, Rivigo now has a fleet size of about 3,000 trucks.
The StartupLab daily uploads news and articles related to the startup ecosystem in India. So, if you want to know about the Indian Startup Ecosystem, read our articles.