Bengaluru-based distribution and logistics platform Ripplr has raised $40 million in a Series B funding round led by Fireside Ventures. The company will use the funds to scale its tech platform, expand its team, and build a pan-India presence.
Ripplr currently has 24 warehouses in its distribution network across 12 cities, and it plans to add 10 more warehouses in the next year. The company also plans to double its team size to 500 employees by the end of 2023.
Ripplr’s platform digitizes the offline distribution process, making it more efficient and transparent for both brands and retailers. The platform provides real-time inventory tracking, order management, and payment processing. It also offers a variety of analytics tools that help brands track their performance and make better decisions about their distribution strategy.
The company’s target market is FMCG brands that are looking to expand their offline distribution network. Ripplr’s platform can help these brands reach a wider audience and improve their customer experience.
“There is an increasing focus on offline expansion that we see with D2C brands after they acquire a strong consumer franchise,” said VS Kannan Sitaram, Co-founder, and Partner at Fireside Ventures. “We 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 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,” said co-founders Abhishek Nehru and Santosh Dabke. “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.”
Ripplr is one of a number of startups that are looking to digitize the offline retail sector. Other startups in this space include Jumbotail, OfBusiness, and ElasticRun. These startups are all using technology to make it easier for brands to reach offline retailers and for retailers to manage their inventory and operations.
The round also saw participation from new investors Bikaji and Neo Foods, as well as existing investors 3one4 Capital, Zephyr Peacock India, and Japanese conglomerate Sojitz Corporation.
The digitization of offline retail is still in its early stages, but it has the potential to revolutionize the way that goods are distributed and sold. Startups like Ripplr are playing a key role in this transformation.