We are discussing Ripplr to Raise $4.7 Million in its Debt Funding Round Led by IPO-bound Northern Arc:
Ripplr is a logistics and distribution startup looking to raise $4.7 million in debt from IPO-bound Northern Arc. Last month, the startup raised Rs 6 crore in debt from venture debt company Trifecta Capital. The company intends to use this funding to enhance its platform, expand its network, meet general corporate purposes, and cover working capital expenses.
The shareholders of Ripple approved a resolution to allot 400 non-convertible debentures to the lender to raise Rs 40 crore. In May, the firm’s shareholder passed a resolution to raise Rs 101 crore in debt. This funding round was a part of this resolution. The startup provides a mobile application and a B2B web platform, allowing retailers and distributors to connect directly. The platform uses artificial intelligence to make decisions and predict customer needs. This enables brands to deliver a better user experience while increasing customer quality and certainty.
The startup offers distribution services to clients, including Godrej, Dabur, and Tata Consumer Products. The company offers its logistic services to companies, including Zomato and Bigbasket. Ripplr secured $40 million in its series B funding round led by Fireside Ventures with participation from 3one4 Capital, Zephyr Peacock, and Bikaji. The investment will help the startup grow and expand its services while offering greater value and experience to its customers and investors.
This Bengaluru startup has over 24 warehouses across the country. The company operates in Delhi, Kerala, Maharashtra, Tamil Nadu, and Karnataka. Ripplr has secured more than 50 million USD in funds to date. Ripplr plans to expand its services by using more advanced technologies and expanding its operations while solidifying its position in the logistics and distribution sector. The firm will also use a portion of this investment to improve its supply chain solutions. The funding round was a mix of equity and debt. The investment just came when India’s logistic sector is predicted to grow a CAGR of 3 percent by 2028 and cross the 35.86 million USD mark this year.
Conclusion
Ripplr, a Bengaluru-based logistic and distribution startup, announced its plan to raise $4.7 million in debt from IPO-bound Northern Arc. The startup plans to use these fresh proceeds to enhance its services, expand its network, meet working capital expenses, and meet general corporate purposes. Ripplr’s shareholders passed a resolution to allot 400 non-convertible debentures to the lender to raise Rs 40 crore. This new round was part of a resolution passed by the shareholders of Ripplr in May to raise Rs 101 crore in debt.
The company claims to have customers including Zomato, Godrej, Dabur, and BigBasket. The platform uses artificial intelligence to make decisions and deliver a better user experience by adding quality and certainty for guests. The startup has over 24 warehouses nationwide and plans to establish more in the next years. The startup provides a mobile application and a B2B web platform, allowing retailers and distributors to connect directly.
