Ripplr, a tech distribution and logistics platform, has raised $40 million in a Series B round from new and existing investors, which was led by Fireside Ventures. The fundraising also saw participation from new investors Bikaji and Neo Foods, along with existing investors, 3one4 Capital, Zephyr Peacock, and Japanese conglomerate, Sojitz Corporation.

The round also witnessed debt participation from Stride Ventures, Alteria Capital, Northern Arc Investments, and Trifecta Capital.

“The funds will go in strengthening our supply chain tech platform to solve the complexities of the FMCG distribution ecosystem,” Santosh Dabke, Co-founder told businessline. He added, “Also, we will use these funds to add manpower as we focus on adding new geographies. We are very strong in the Southern region, and we are next looking at strengthening our presence in Northern and Western region.”

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Set up in 2019, Ripplr is a Plug-n-Play integrated distribution network offering Distribution as a Service (DaaS) to brands by managing and digitising operations. It has partnerships with leading FMCG brands, such as HUL, Nestle, Britannia, ITC, Reckitt, and L’Oreal, among others. It is operational in 12 cities and serves over 80,000 retailers.

“We have been growing exponentially for the past four years. We have long-term partnerships with brands. During Covid-19, brands realised the importance of a pan-India master distribution network and that served as a catalyst for our growth. Our model focuses on plugging the multi-dimensional gaps in the fragmented FMCG distribution ecosystem and helping distributors and retailers in connecting with brands,” he added.

The platform had raised $12 million in a funding round with a mix of equity and debt from Sojitz Corporation and Stride Ventures in December, 2021.

“There is a huge headroom for growth given the large number of retailers in the country. This funding is an indicator of the company’s ‘strong unit economics’ and validation of our business model. We want to sharpen our focus on stable and mature growth with strong profitability metrics. Over the next 18-24 months, we are looking at becoming profitable,” Dabke added.

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