Rivigo A Logistic Startup Now a Part of Mahindra.

Rivigo is an logistics startup from Gurgaon. Founded by Deepak Garg And Gazal Kalra in Year 2014. It focuses on making logistics faster, safer and cost-effective through excellence in technology, data, culture, and operations.

Founded in 2014 and backed by Elevation Capital and Warburg Pincus, Rivigo has been struggling for some time, with reports of it scouring the market for potential buyers.

Mahindra Logistics Ltd (MLL), the third-party logistics company and part of Mahindra Group, has acquired the B2B express business of logistics unicorn Rivigo for a consideration of Rs 225 crore.

In a statement to the

Stock Exchange, Mahindra Logistics announced that its acquisition of Rivigo’s B2B express business is based on a failed sale. Rivigo’s B2B Express business reported revenue of Rs 371.3 crore in his 22nd fiscal year from 2021.

Acquisition includes customers, teams, assets, technology platform and the Rivigo brand. Rivigo said it will continue to own its own truck fleet and full truck load (FTL) transportation rights.

Rivigo CEO Deepak Garg said: Over the years, we have built a strong brand in our PTL/Express services with our network across India and our backbone of quality technology and services. We believe that customers and employees of PTL Business can greatly benefit from being part of a quality end-to-end supply chain service company like MLL. “