Distribution and logistics platform Ripplr has raised $45 million in fresh funding, with strong participation from existing investors and State Bank of India (SBI) joining as a new investor, per an announcement.
This marks the Series C round for the 3one4 Capital-backed company.
Before this, the company had raised more than $56 million through a mix of equity and debt.
Ripplr, founded in 2019, is a tech-enabled distribution platform that streamlines logistics, inventory management, and last-mile delivery for consumer brands.
Despite rapid consumer growth, India’s distribution infrastructure remains fragmented. Ripplr says it aims to tackle this gap. Its network is said to cover roughly 100,000 retailers and process hundreds of thousands of monthly orders.
The fresh funding comes in at a time when Ripplr is preparing for a potential IPO over the next 18 to 24 months. It claims to be nearing EBITDA positivity.
Given the fragmentation in traditional distribution, many logistics players are expanding to capture the market, creating opportunities for PE and VC investors.
Earlier this week, DealStreetAsia reported that Delhivery is in talks to acquire a stake in AKR Express, a logistics peer in southern India, as it seeks to expand its regional footprint amid rapid changes in the sector.
In other prominent deals, Multiples acquired a significant minority stake for $35 million in INSTANT-XP late last year.
