[Portfolio News] Ripplr hires banker for Series B round, net sales set to grow sixfold in this fiscal
Zephyr Peacock invests in small and medium sized enterprises operating across financial services, food and agriculture, and infrastructure ancillaries sectors. The Fund has invested in Ripplr, a tech-enabled logistics services provider and distributor of retail consumer products.
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Below is an excerpt from the post that first appeared on Mint on 11 March 2022:
Ripplr, a tech-enabled distribution platform focussed on fast-moving consumer goods companies, has appointed an investment bank for its Series B funding as it seeks to launch new verticals and ‘uberise’ the platform through tie-ups with traditional distributors from smaller towns and cities.
In an interview, co-founders Abhishek Nehru and Santosh Dabke said it has mandated Investec to secure $40-50 million, including debt of around $10 million. However, they did not reveal the names of 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 nearly four times the post-money valuation of $52 million it clocked during an extended Series A round of $12 million late last year. Japanese conglomerate Sojitz Corp. and Stride Ventures led the funding, along with existing investors 3one4 Capital and Zephyr Peacock India Growth Fund in December.
Ripplr’s expectation of securing a high valuation stems from the significant jump in its net sales. In the first year of operations in 2019-20, Ripplr had clocked net sales of ₹8.15 crore, according to VCCEdge, the data intelligence platform of VCCircle. This increased to ₹47.4 crore in 2020-21.
