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Report: Indian logistics startup Rivigo looking to raise up to US$400M

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Report: Indian logistics startup Rivigo looking to raise up to US$400M

Rivigo Services Pvt. Ltd. could attract between US$350 million and US$400 million in its latest fundraising round, which it will use to expand its trucking fleet and to add clients, Livemint reported, citing three unnamed sources privy to the matter.

The preliminary discussions are being conducted with new and existing investors, and the final tally raised could differ, the sources added.

The sources said the Indian trucking startup is seeking a new valuation at more than the $950 million it carried at its previous fundraising round.

The company did not respond to an email seeking comment on the matter.