Ripplr Raises INR 200 Cr From Sojitz Corporation, Others

Distribution and logistics startup Ripplr has raised INR 200.3 Cr (about $22.6 Mn) from its existing investors. The round was led by Sojitz Corporation, and saw participation from 3one4 Capital and Trifecta Capital.

According to the startup’s MCA filings, Ripplr allotted 3.1 Lakh Series C1 CCPS shares to Sojitz Corporation at an issue price of INR 6,119 apiece, aggregating to INR 191.6 Cr.

Sojitz Corporation is a Tokyo-based general trading company which is involved in manufacturing and distribution of various products and goods. The company operates in various industries such as aerospace, automotive, infrastructure development, energy solutions and retail services.

Earlier this year, Sojitz also invested in IOC GPS Renewables Pvt Ltd, a joint venture between GPS Renewables and Indian Oil, for production and sales of biomethane.

Meanwhile, 3one4 Capital and Trifecta Capital infused INR 8.3 Cr and INR 63.9 Lakh, respectively, in Ripplr.

It is not clear how the startup plans to use the capital. A questionnaire sent to Ripplr cofounder Abhishek Nehru didn’t receive any response till the time of publishing this story.

Founded in 2019 by Nehru and Santosh Dabke, Ripplr provides a plug-and-play tech-enabled distribution platform for FMCG and ecommerce brands. It helps enterprises in warehouse onboarding, store onboarding, and price management.

The startup’s logistics division helps manage last-mile delivery fleets, provides cold chain solutions and vehicle tracking.

Ripplr provides its distribution management services to brands like Colgate, Britannia, Dabur among others. It counts the likes of BigBasket, Blinkit and Croma among its clients for the logistics business.

The Bengaluru-based startup last raised $40 Mn in a mix of equity and debt in 2023. It counts the likes of Fireside Ventures, Bikaji, Neo Foods, and Zephyr Peacock among its investors.

Ripplr competes with the likes of Udaan, ElasticRun, traditional distributors, among others.

On the financial front, Ripplr’s net loss widened 43.5% to INR 89.15 Cr in FY24 from INR 62.09 Cr in the previous fiscal year. However, operating revenue surged 38.9% to INR 1,028.38 Cr from INR 740.22 Cr in FY23.

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