Rivigo raises $65 million in its latest round as it stands at the door of the unicorn club

• Logistics startup Rivigo has raised $65 million in its Series E round.
• This funding, which came in from Warburg Pincus and SAIF Partners, is a part of its ongoing Series E round.
• The startup’s last reported valuation was $950 million and with this funding it could have crossed the $1 billion mark to be a unicorn.

Logistics startup Rivigo raised $65 million in its latest Series E round. The funding came in from PE firm Warburg Pincus and SAIF Partners.

Rivigo’s last reported valuation was at $950 million when it raised the earlier tranche for the Series E round, in February. With the new round, Rivigo could have become India’s latest unicorn, although it’s not confirmed yet.

“We continue on our mission to make logistics human and digital. Relay trucking is now very well established where relay truck pilots lead better life and customers gets exceptional service. With technology and freight marketplace, we now want to bring relay to every truck in the country,” Deepak Garg, chief executive of Rivigo, said in a statement.

Rivigo and its competitor Blackbuck both have been racing towards the unicorn status. Blackbuck had announced its latest funding in May and it had fallen a few million short of being a unicorn. It is also currently valued at $950 million.

Blackbuck had raised $150 million from Goldman Sachs Investment Partners and Silicon Valley-based Accel, along with Wellington, Sequoia Capital, B Capital and LightStreet and existing investors Sands Capital and International Finance Corporation.