|Abhishek Nehru and Santosh Dabke – Ripplr Co-Founders|
Over the past year, Ripplr has grown by 7X, targeting an ARR of â¹ 1000 crore over the next 12 months
Ripplr is present in 6 cities covering ~ 30,000 retailers having long term partnerships with all major FMCG brands like HUL, Britannia, ITC, Reckitt, Godrej, Dabur & Nivea. Their goal is to build a strong authorized distribution network in 100 cities covering a lakh retailer base over the next 12 months.
RIPPLR, a technology-based distribution and logistics ecosystem platform, today announced that it has raised US $ 12 million in pre-series B financing. This round is a mix of equity and debt, which saw the participation of Sojitz Corporation, a major Japanese conglomerate and Stride Ventures as well as existing investors 3one4 Capital, Zephyr Peacock India Growth Fund and Chand Family Office – Yukti, backed by prominent angel startup investors Vivek & Abhay (founders of Licious), Aniketh & Ashish (founders of Solution Infini (now Kaleyra)).
Expressing their joy at the new round of funding, Abhishek Nehru & Santosh Dabke, co-founders of Ripplr said, âWe are delighted to have successfully concluded our pre-series B round despite the challenges of the pandemic. With our new model for FMCG distribution and retail, we are shaking up traditional channels. Our AI / ML-based distribution platform bridges the gap between brands and unorganized retail, resolving both distribution and information asymmetry. We are building one of India’s largest asset and technology-based FMCG distribution networks and will use these new funds to expand our business into new geographies and develop robust technology capabilities.
Mr. Sari Miida, General Manager, Retail Department, Retail and Consumer Services Division, Sojitz Corporation said: âWe are delighted to have the opportunity to enter the Indian FMCG market by collaborating with RIPPLR, which is one of the first companies to create a digital distribution platform in the market. and gain traction with major Indian manufacturers. From now on, we will try to help solve the issues faced by consumer goods / food manufacturers in the Indian market by providing our knowledge gained through overseas wholesale operations and experience in international agreements with manufacturers of consumer goods / food. ”
With the new capital injection, Ripplr plans to deploy the raised capital to amplify the company’s technological capabilities, product development, attract new talent, expand into new markets and scale operations. . The company will continue to focus on providing sophisticated distribution solutions and expanding borders. The company previously closed its Series A at US $ 3 million in January 2021.
Retail distribution in India is on the cusp of a technology-driven transformation. With the onset of COVID-19 in India, the market has seen significant disruption in supply chains and reestablishing them to provide a higher degree of reliability has become a significant challenge. The distribution network continues to be broken and disorganized. The need for speed, technology and reach will become critical for the success of brands. FMCG companies and emerging consumer brands are increasingly partnering with technology-driven distribution companies and using their internal resources for branding, marketing and advertising.
Ripplr is already engaged with an international investment banker and is at an advanced stage of discussions to close its Series B funding early next year.