Bengaluru-based startup Intelligent Retail, which owns and operates logistics and distribution platform Ripplr, has raised an undisclosed amount in seed funding from Venture capital firms 3one4 Capital and Sprout Venture Partners.
Ripplr will use the funding proceeds to strengthen its technology infrastructure.
Founded by Abhishek Nehru and Santosh D last year, Ripplr is focused on providing end-to-end logistics support to new-age brands using technology in an asset-light approach within existing infrastructures.
“Lower volumes of trade among newer brands, lack of adequate infrastructure and channels are primarily why logistics and distribution costs are significantly high – 13%-14% in India – in retail,” Nehru said.
“The high distribution costs and limited availability of distributors make it an arduous journey for new-age brands to move into general trade, despite several products having high demand and market fit, thus limiting new brands to modern trade or e-retail,” he added.
INDIA DEAL MONITOR
Here are some of the venture capital transactions in India from January 9-January 12.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Ripplr||Bengaluru||-||Seed||3one4 Capital, Sprout Venture Partners||-||LogiTech|
|Zomato||Gurugram||150 million||PE||Ant Financial||-||FoodTech|
|Indegene Omnipresence||US||-||-||Syneos Health||-||HealthTech|
|Escrowffrr||Gurugram||150,000||-||Inflection Point Ventures||-||Fintech|