Intelligent Retail Pvt Ltd, which operates distribution and logistics startup Ripplr, has raised $3 million (around Rs 22 crore) in a Series A funding round.
Participants in this exercise include Zephyr Peacock India Growth Fund; Yukti, the Chand Family Office; and existing investor 3one4 Capital, Bengaluru-based Ripplr said in a statement.
Prior to this round, the startup in January last year raised an undisclosed amount in seed funding from Sprout Venture Partners, 3one4 Capital, and a clutch of high net-worth individuals.
The company was set up in 2019 by Abhishek Nehru and Santosh Dabke. It provides technology-enabled logistics and distribution services for consumer brands.
The firm uses predictive analytics to manage demand and inventory for brands and retailers, and provides real-time information on sales orders and delivery status.
It is now aiming to expand to 300 cities and towns in the next three years through the addition of distribution partners on its platform.
“As a company, Ripplr has already proven its ability to convert revenue potential into actual revenue for brands. It is already working with several marquee players,” Zephyr Peacock managing director Pankaj Raina said.
Dabke said the startup is aiming to create an omnichannel platform that connects brands with distributors and retailers, and helping them leverage data-led distribution networks.
There has been a steady stream of investments to companies operating in the logistics-technology space in the past few years. Both investment firms and companies have made bets in this sector.
In November, for example, Shipsy raised $6 million (around Rs 44.4 crore) in a Series A round co-led by Sequoia Capital India’s Surge and Naukri.com parent Info Edge, an existing investor.
Prior to that, in October, VCCircle reported that pharmaceuticals-focused Kool-ex Cold Chain Ltd was in advanced talks with a few strategic and private equity investors to raise capital.
Some of the larger VC-funded firms in this space include Rivigo, BlackBuck, and Delhivery.