Bengaluru-based supply chain platform Ripplr has secured $45 million in a Series C funding round, signaling strong investor confidence in its mission to modernize India's distribution network. The round featured new investor SBI alongside existing backers like 3one4 Capital, Zephyr Peacock, and Sojitz Corporation. This capital infusion will fuel the company's expansion as it moves towards profitability and eyes a public listing within the next two years.
Modernizing a Fragmented Distribution Network
Ripplr addresses the long-standing challenges of India's fragmented and inefficient offline distribution system, which hampers both legacy giants and emerging brands. The traditional multi-layered network often leads to high costs, limited agility, and inconsistent service for retailers. By creating a unified operating system, the company aims to modernize this critical backbone of the country's vast consumer market.
Founded in 2019 by Abhishek Nehru and Santosh Dabke, the platform integrates logistics, inventory intelligence, and on-ground operations into a single, tech-driven engine. This provides brands like Unilever, Nestlé, and Tata with real-time visibility and ensures reliability for its network of approximately 100,000 retailers. The company consistently maintains impressive fill rates of over 95 percent, a key differentiator in the competitive landscape.
Strategic Capital for Targeted Expansion
The $45 million funding comprises a strategic mix of primary equity, secondary equity, and debt, providing Ripplr with flexible capital for its next growth phase. This investment will be channeled into several key areas aimed at deepening its market penetration and diversifying its service offerings. The company plans to aggressively scale its electronics distribution vertical and enhance its Distribution-as-a-Service (DaaS) model for D2C brands.
A significant portion of the funds is also earmarked for expanding its micro-fulfilment network, which currently includes six centers across six cities. This infrastructure is crucial for improving speed and efficiency for quick commerce partners, a rapidly growing segment in India. Furthermore, Ripplr will continue to strengthen its core operating system for routing, inventory management, and overall network design.
Financial Performance and IPO Aspirations
Ripplr's growth trajectory is reflected in its recent financial performance, with revenue climbing 39% to Rs 1,032.43 crore for the fiscal year ending March 31, 2024. However, this rapid expansion came with increased costs, as losses widened to Rs 89.15 crore from Rs 62.09 crore the previous year. The rise in expenses was primarily driven by higher stock purchases, employee benefits, and finance costs.
Despite the wider losses, the company reports that it is nearing EBITDA positivity, indicating a disciplined approach to scaling its operations sustainably. This financial progress underpins its ambitious goal of launching an initial public offering (IPO) within the next 18 to 24 months. The move signals a strategic shift from validating its business model to achieving long-term, profitable growth in the public market.
This latest funding round marks a pivotal moment for Ripplr, equipping it with the necessary resources to solidify its position as a leader in tech-led distribution. By focusing on strategic expansion and operational efficiency, the company is well-positioned to capture a significant share of India's evolving consumer market. Ripplr's journey underscores the critical role of technological innovation in building the modern infrastructure required to power the next wave of consumption growth.