Rivigo, an India-based logistics services provider backed by postal services provider Singapore Post, has received $35.6m in new funding, VCCircle reported on Wednesday, citing regulatory filings.
Private equity firm Warburg Pincus led the round, with the remaining capital coming from fellow private equity firm SAIF Partners, and it valued the company at approximately $948m.
Founded in 2014, Rivigo provides logistics services to shippers and fleet operators including trucking, cold chain logistics and express delivery. It also operates a fleet of trucks and offers its services to e-commerce, pharmaceutical, automobile and consumer goods companies.
The company was reportedly in talks with internet and telecommunications group SoftBank in August 2017 to raise between $100m and $400m in funding.
SAIF previously led the company’s $30m series B round in 2015, which included an undisclosed portion of debt, as well as its $9.6m series A round earlier in the same year, which included participation from Singapore Post and angel investor Thomas Netzer.
The private equity firm also led the company’s $50m series D round in January 2018, investing alongside Warburg Pincus, the latter of which had provided $75m of series C funding for the company in late 2016.
Rivigo also collected $15.2m in debt financing in early 2017, adding to earlier debt secured from providers including Kotak Mahindra Bank, HDFC Bank, Yes Bank and Icici Bank.