Rivigo becomes eighth unicorn startup of 2019, valued at $1.05 billion

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Rivigo becomes eighth unicorn startup of 2019, valued at $1.05 billion



Mumbai: Trucking logistics firm Rivigo is the eighth Indian startup to become a unicorn — valued a billion dollars or more — this year, after it raised $4.9 million from a South Korean fund, KB Platform Fund, according to regulatory filings with the Ministry of Corporate Affairs.
Entrackr first reported the development.
It is now valued at $1.05 billion, from the $950 million it was valued at in February last year, when it raised $50 million from SAIF Partners and private equity major Warburg Pincus.
Rivigo has been out to raish fresh capital for over a year now, and Mint reported in September last year that it is in talks to raise $400 million. However, it hasn’t been able to do so, and has been topped up by existing backers SAIF and Warburg, who last invested $65 million in July this year.

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