The Weekend Leader - Ripplr Secures $40M in Series B Funding, Sets Sights on Pan-India Expansion

Ripplr Secures $40M in Series B Funding, Sets Sights on Pan-India Expansion



Santosh Dabke and Abhishek Neheru, Co-Founders, Ripplr (L-R)

Bangalore-based tech distribution and logistics platform, Ripplr, has raised a staggering $40 million in a Series B funding round.

The round was spearheaded by Fireside Ventures and saw participation from new investors Bikaji and Neo Foods, as well as existing investors 3one4 Capital, Zephyr Peacock, and Japanese conglomerate Sojitz Corporation.

Debt participation was also witnessed from Strides Ventures, Alteria Capital, Northern Arc Investments, and Trifecta Capital.

Established in 2019, Ripplr offers an innovative Distribution as a Service (DaaS) to brands, aiming to manage and digitize operations and create enhanced visibility and reach for the supply chain.

The newly-acquired funds will be utilized to fortify its tech platform, expand the team, and establish a pan-India presence.

Ripplr has shown remarkable growth since its inception, expanding its business across 12 cities within four years and reaching operational profitability.

It previously raised $12 million in a mixed equity and debt funding round from Sojitz Corporation and Stride Ventures in December 2021.

Reflecting on the fundraising, Abhishek Nehru and Santosh Dabke, Co-founders of Ripplr, said, “The funding is an indicator of the company's 'strong unit economics' and validation of our business model. Each Indian State is like a country having multiple dimensions on buying patterns, price points, and consumer sentiments.

“Our Goal is to stitch this multi-dimensional gap, helping distributors & retailers in connecting with brands. With this round, we are aiming to increase our geographical footprints in India to solve the reach and visibility complications faced by all the FMCG Brands in offline distribution and supply chain.

“At Ripplr, we aim at becoming one of the trusted long-term partners for brands, distributors, and Kirana stores by building an omnichannel model to optimize supply chain inefficiencies.”

VS Kannan Sitaram, Co-Founder, and Partner of Fireside Ventures, commented on the fundraise, “There is an increasing focus on offline expansion that we see with D2C brands after they acquire a strong consumer franchise. Ripplr’s Plug -n- Play model will work superbly well for such D2C brands.

“We at Fireside Ventures believe that there is a massive untapped potential in plug-and-play retail and are certain that Ripplr’s distribution platform operating at scale across the country will unlock the potential in the offline retail space”.

With the Indian FMCG business being one of the fastest-growing markets globally and the Indian economy growing at a healthy 7-8% annually, Ripplr aims to evolve as a futuristic omnichannel tech platform.

Its vision is to make both distributors and retailers ready for front-end business scaling and optimization of backend efficiencies, making the most of the country's 1.4 billion consumers.

Ripplr has raised a total of $56 million so far, from a diverse pool of investors. It operates a distribution network with 24 warehouses across Bengaluru, Hyderabad, Chennai, Delhi-NCR, Mumbai, Pune, and tier 2 cities, servicing 80,000+ retailers.

The company has long-term partnerships with all major FMCG brands like HUL, Britannia, ITC, Nestle, Mondelez, Colgate Reckitt Benckiser, Godrej, Dabur, and Nivea among others. - TWL Bureau

Milky Mist Cheese