By Inc42 Media
Ripplr, a Bengaluru-based logistics & distrubution startup is raising INR 40 Cr ($4.7 Mn) debt from IPO-bound Northern Arc
Last month, the startup raised INR 6 Cr debt from another venture debt firm Trifecta Capital
The startup raised $40 Mn in its Series B funding round in May last year, which was a mix of equity and debt
Bengaluru-based Ripplr is raising INR 40 Cr ($4.7 Mn) debt from IPO-bound Northern Arc. According to Ripplr’s regulatory filings, the startup’s shareholders passed a resolution to allot up to 400 non-convertible debentures (NCDs) to the lender for a cash consideration of INR 40 Cr.
Last month, the startup raised INR 6 Cr debt from another venture debt firm Trifecta Capital.
In May, Ripple’s shareholders passed a resolution to raise up to INR 101 Cr through debt. The latest funding seems to be part of the same round.
Founded in 2019 by Abhishek Nehru and Santosh Dabke, Ripplr offers a B2B web platform and mobile application to connect retailers with distributors. The startup claims that the platform uses AI to make predictions and decisions which helps brands deliver an integrated customer experience by elevating certainty and quality for consumers.
It counts Dabur, Tata Consumer Products, and Godrej among its customers for the distribution service vertical, while its logistics services are used by the likes of BigBasket and Zomato.
The startup raised $40 Mn in its Series B funding round in May last year, which was a mix of equity and debt. The equity funding was led by Fireside Ventures and also saw participation from Bikaji and Neo Foods, along with existing investors 3one4 Capital, Zephyr Peacock and Japanese conglomerate Sojitz Corporation.
Back then, Stride Ventures, Alteria Capital, Northern Arc Investments and Trifecta Capital participated in the debt part of the round.
Ripplr has a presence in Maharashtra, Delhi, Kerala, Karnataka and Tamil Nadu. It manages over 24 warehouses in these states.
The startup has raised about $50 Mn in funding till date.
In recent times, a number of logistics startups have raised funding despite the ongoing funding winter. In May, supply chain and logistics startup 3SC bagged $4 Mn from its existing investor GEF Capital’s South Asia Growth Fund.
Prior to that, LetsTransport, a trucking aggregator, bagged $22 Mn in its Series E funding round led by Bertelsmann India Investments.