The logistics firm Rivigo has decided to raise $65 million for its series E series which is controlled by existing investors War burg Pincus which is an organization dealing in multi-stage investments.
Warburg Pincus wants to work hard on its new series and they want it to be profitable for them as well as Rivigo.
There’s no doubt in the fact that Rivigo has suffered from serious losses in past. They have accounted for thousands of crores of losses which has resulted in operations getting halted and for an organization which is still in its initial phase. Rivigo has definitely faced a shatter in confidence as well.
It is the second consecutive investment that has been raised by the organization this year after raising $50 million earlier this year. The organization is always looking to do something new and work on it but more often than not it doesn’t work for the organization.
Logistics is not everyone’s thing. It requires a bunch of efficient & knowledgeable people to make changes regarding it & Rivigo has done just that over the years being committed to innovating in high- growth logistics.
It is to be noted that the net value of assets of Rivigo is $160 million. Yet, the organization is one of the most inconsistent sectors in the entire country. Although over the years the organization has gone on to make profits it makes losses at an even better rate which makes the purpose of earning profit at a constant rate very difficult.