Rivigo, an Indian startup that wants to construct a more reliable and safer logistics network, has raised a $ 30 million collection B led by way of SAIF companions. The funding, which contains fairness and debt financing, will go towards improving Rivigo’s proprietary hardware platform, which it makes use of to cut back driver fatigue, to find one of the best visitors routes, and screen the performance of its vans.
Launched in 2014, Rivigo (which was previously referred to as TrucksFirst) claims that it might lower transit times for deliveries by way of 50 to 70 %. Founder Deepak Garg tells TechCrunch that the corporate’s purpose is to guarantee that long-haul street shipping is just as fast and dependable as shipments with the aid of aircraft.
firms like Rivigo are staking their possibilities on the growth of India’s manufacturing, e-commerce, and retail industries, which anticipated to raise India’s logistics market at a compounded annual increase fee of 12.17 % to $ 302 billion by means of 2020, in step with analysis and Markets.
If the nice and products and services Tax bill is sooner or later handed by way of the Indian executive, it is going to also lend a hand logistics providers like Rivigo by using decreasing the collection of warehouses they have got to arrange throughout totally different areas in order to conform to tax rules.
Rivigo operates its own fleet of vans and one of the crucial primary ways it differentiates from competitors is monitoring the amount of time most drivers can keep on the highway ahead of they get too tired to function a car safely. It uses those numbers to create a relay gadget so drivers can finish their shift and hand their truck off without interrupting Rivigo’s 24-hour route operations. every operator has a smartphone app that mechanically clocks them in once they get right into a truck and retains monitor of their hours and mileage.
“This creates a huge amount of price as a result of drivers find it irresistible. they can come again to their families,” says Garg. “shoppers find it irresistible as a result of they get deliveries a lot quicker in comparison with an setting where truckers have to stop and leisure on the highway.”
Rivigo’s tech platform additionally includes a network of sensors that are used to observe the temperature of refrigerated shipments, track security and location, and reveal the efficiency of every car down to its particular person parts. much of the corporate’s sequence B will go toward making improvements to its hardware, since it tests everything from gas consumption to gearbox parts.
“Our sensors can centrally manage or keep watch over the vitals of a truck and therefore fortify the reliability of our operations,” says Garg. “We consider that it’s better to ensure vitals are so as, as opposed to having a look at them after a breakdown.”
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