new Delhi : Ripplr, a tech-enabled distribution platform Concentrate On Fast-Moving Consumer Goods Companies, has appointed an investment bank for its Series B funding as it seeks to launch new verticals and ‘uberize’ the platform through tie-ups with traditional distributors in smaller towns and cities. Is.
In an interview, co-founders Abhishek Nehru and Santosh Dabke said that it has mandated Investec to secure $40-50 million, which includes loan About $10 million. However, he did not disclose the names of the potential investors.
A person familiar with the development said Ripplr is in talks with global venture capital funds and mid-market private equity funds and is seeking a valuation of $200 million, or $52 million compared to the $52 million seen during an extended series. Nearly four times the post-money valuation. A $12 million round at the end of last year. Japanese conglomerates Sojitz Corp and Stride Ventures led the funding in December along with existing investors 3one4 Capital and Zephyr Peacock India Growth Fund.
Ripplr’s hopes of achieving higher valuations stemmed from a significant jump in its net sales. In the first year of operations in 2019-20, Ripplr had recorded net sales of 8.15 crore as per VCCEdge, the data intelligence platform of VCircle. it grew 47.4 crore in 2020-21.
In FY22, the company’s net sales are set to post 300 crore, Nehru said, growing more than six times what it was a year ago.
Ripplr is owned and operated by Intelligent Retail Pvt. Ltd., is a distribution company seeking to bridge the gap between FMCG brands and unorganized retailers across India and in international markets. Dabke said authorized distribution in India is largely dominated by family-owned businesses, but they lack the technology know-how and massive ambition. “Brands are looking to companies like Ripplr that are technology-driven, empowered and organized, and add value to their business models.”
He added that the idea is not to take out the family-owned distributors, but to help them achieve technological capabilities with the Ripplr platform.
The company is working on two models. One, a full stack operations platform for the top 10 metros, where it will tie up with brands as an authorized distributor, offer warehouses on lease and aggregate vehicles operated by Rippler, Nehru said. “We will be in bigger cities because we want to build a strong belief with brands that we understand distribution and that we can help them grow.” Rippler’s distribution partner model will be launched in smaller cities and towns. “There are distributors, primarily family owned, in smaller markets working with brands for 3-4 decades.”
joseph.rai@livemint.com
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