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Logistics firm Rivigo to raise over $50-M pre-IPO funding in 2022

Mint  

Trucking logistics firm Rivigo plans to raise $50-100 million in a pre-IPO (initial public offering) round in 2022, and go for an IPO in 2024. The firm in the last two years pivoted from an asset heavy to an asset light model, to achieve scalability and reduce losses. Gurugram-based Rivigo has a ‘relay trucking' model, under which a truck driver hands over the vehicle to another driver at a designated pit stop, thereby ensuring that the truck is not idle at any point during the journey.