Rivigo, an India-based logistics services provider backed by postal services provider Singapore Post, has raised $65m in a series E round co-led by Warburg Pincus and SAIF Partners, TechCrunch reported today.
The same two investors had provided a $35.6m initial series E tranche in February 2019. Other investors in the round, which has not yet closed, have not been named.
Founded in 2014, Rivigo offers logistics services to shippers and fleet operators in the trucking, cold chain logistics and express delivery sectors. It has also built its own fleet of lorries targeting the e-commerce, pharmaceutical, automobile and consumer goods industries.
The money will aid Rivigo’s domestic expansion plans, including building out its infrastructure. The company hopes to start turning a profit by March 2020.
Rivigo has secured more than $280m in funding altogether. SAIF Partners led a $30m series B round in 2015, which included an unspecified amount of debt financing, and a $9.6m series A round earlier that same year.
Singapore Post took part in the series A round together with private investor Thomas Netzer.
SAIF Partners also led a $50m series D round in January 2018, which included Warburg Pincus. The latter had supplied $75m of series C funding in 2016.
