Gurugram-based surface transport and logistics company Rivigo Services, in which Softbank has earlier planned to invest $ 100 million, closed a total sum of Rs 333 crore funding round led by two of its existing investors Warburg Pincus and SAIF Partners. Series-D round of equity financing, which is believed to have closed about 30 days ago, is the latest sum of capital raised by Rivigo Services, after it scored $75 million in funding from Warburg Pincus in November 2016.
Allotting Shares to Spring Canter Investment
Rivigo Services has allotted 4,477 Series D compulsorily convertible cumulative preference shares to Spring Canter Investment for a total of Rs 113.61 crore, according to its board meeting held on December 15 last year.
Clocking a Jump in Total Revenue to Rs 402 crore
In the fiscal 2017, Rivigo checked a 170% jump in all out income to Rs 402 crore, up from Rs 149 crore in the past money related year. However misfortunes took off to Rs 137 crore, up from Rs 5.5 crore in the year finished March 2016, according to the organization’s financials gotten through research platform Tofler.
Raising Money in Equity and Debt Financing
Prior to the latest round, Rivigo had already raised more than $100 million in equity and debt financing, which has been valued at about Rs 2,800 crore, or $440 million, when it closed its previous funding round in November last year.