Ripplr, a Bangalore-based outfit supplying distribution and supply chain platforms has just landed USD 45 million (~INR 402 crore) in its Series C funding round – and it’s a coup – with the State Bank of India (SBI) stepping in as the lead investor alongside previous investors 3one4 Capital, Zephyr Peacock, and Sojitz Corporation. Ripplr Series C funding is a strong vote of confidence in the company’s tech-driven distribution idea , and a clear sign investors are buying into the business’s solid prospects of turning a profit soon.
Ripplr Series C Funding Details and Valuation
According to reports, the Ripplr Series C round was a bit of a mix, with primary and secondary transactions included, plus a small debt component added in for good measure. And what’s more, the deal valued Ripplr at roughly USD 250 million (~INR 2,233 crore), a nice jump from the USD 100 million (~INR 890 crore) valuation in 2023 that the company had a year ago.
The numbers are a bit fuzzy, but it seems that USD 30-32 million (~INR 285.91 crore) of the cash came in as fresh capital – this money will directly put into the business – while a further USD 10 million (~INR 89.34 crore) or so was raised through existing shareholders selling some of their shares. Ripplr has now managed to rake in over USD 100 million (~INR 893.47 crore) using a mix of equity and debt since its inception.
The Business
Ripplr was founded back in 2019 by Abhishek Nehru and Santosh Dabke. Their outfit offers a full service distribution platform that integrates logistics, inventory management, ground-level operations, and relationships with retailers into a single system.
The company’s platform is designed to serve as a solid backbone for FMCG and e-commerce companies, helping them digitize and streamline their supply chain from forecasting demand right through to last-mile delivery. Right now, Ripplr has about 1,00,000 retailers on its books, handles tens of thousands of orders every month, and is proud to count some big-name clients like Unilever, Nestle,Tata, Godrej, Nivea, Dabur, Colgate, Britannia, to name but a few.
Strategic Focus: Expansion and Tech Enablement
Ripplr intends to deploy the new capital toward scaling its electronics distribution vertical, expanding to new territories, and adding brands within existing markets. A portion of the funds will also strengthen its Distribution-as-a-Service (DaaS) offering and bolster its micro-fulfillment centers (MFCs) network—small urban warehouses catering to quick-commerce players such as Blinkit and BigBasket. The company currently operates six MFCs across six Indian cities.
In parallel, Ripplr plans to enhance its tech infrastructure, focusing on automation, predictive analytics, and AI-driven inventory management to improve margins and operational efficiency.
Financial Performance
Ripplr’s revenue grew 38.9% year-on-year to INR 1,032.43 crore in FY24 from INR 742.44 crore in FY23, driven by 43% growth in product distribution revenue to INR 938.54 crore. The company also saw 6% growth in supply chain and logistics segment.
However, losses widened 43.6% year-on-year to INR 89.15 crore in FY24 from INR 62.09 crore in FY23, mainly due to higher stock-in-trade purchases, employee costs and finance expenses. Total expenses for the year was INR 1,121.58 crore compared to INR 804.54 crore last year.
Early FY25 data shows top-line growth continues, with gross revenue up 13% to INR 1,164 crore and net losses almost flat at INR 91 crore—a sign that the company’s cost base is stabilizing as it approaches EBITDA breakeven.
Ripplr IPO Plans & Outlook
Ripplr is approaching EBITDA breakeven and is said to be planning an IPO in next 18-24 months. The company wants to be India’s largest technology-first distribution network, with scalability and sustainable unit economics.
Analysts see Ripplr as a big disruptor in India’s fragmented FMCG distribution space. By digitizing traditional supply chains and introducing efficiency at scale, the company will benefit from rising consumer demand and formalization of India’s retail ecosystem.
Competition
Ripplr competes with Udaan, ElasticRun and traditional distributors but differentiates itself with data driven operations, AI enabled demand forecasting and deep integration with retailers. Its hybrid model—combining digital intelligence with on-ground infrastructure—makes it unique in a space which is seeing increased investor interest.
Final Words
Ripplr’s trajectory illustrates the accelerating convergence of logistics, technology, and retail infrastructure in India’s consumer markets. Ripplr Series C funding round led by SBI not only strengthens its balance sheet but also lends institutional credibility as the company eyes a public market debut.
If Ripplr can continue balancing aggressive expansion with operational discipline, it is poised to become one of India’s foremost players in tech-led distribution and last-mile enablement—a sector expected to exceed USD 200 billion in annual throughput by 2030.
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