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Rivigo

LogisticsIndia
New to Unitard
🤝 Acquired
Peak $1.05 BillionToday
~-97%
from peak
  1. 🦄
    Became a unicorn
    2019
  2. 📈
    Peak valuation
    $1.05 Billion ’19
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation
    ~$31.5M
Current status
Fire-sold its B2B express business to Mahindra Logistics for ~₹225 crore (~$28M) in 2022

The rise & fall

5 moments · 2014–2022

The key moments, with employee sentiment along the way.

2014
Founded on the relay
Drivers swap trucks at pit stops so freight never parks — and Indian truckers, for once, sleep at home every night.
YourStory
2019
The peak: India's first trucking unicorn$1.05B
Warburg Pincus and SAIF Partners back the relay model to a ₹8,200 crore (~$1.05B) valuation.
Entrackr
2022
Cash-strapped, Rivigo sells 80% of its fleet
The capital-intensive relay model bleeds cash, and a pivot to asset-light logistics fails to stick.
Business Today
From the inside · Glassdoor reviews, 2020–22
Glassdoor reviews from the cash-crunch years echoed the strain: insiders described pay cuts, appraisals and hikes frozen for years, and a business several increasingly called unstable.
Sep 2022
Acquired by Mahindra Logistics for ~$28M$28M
A 'slump sale' of the core B2B express business for ₹225 crore — about a tenth of the ~$300M raised, and roughly 3% of the peak.
Entrackr

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

Rivigo was India's first trucking and B2B-logistics unicorn, known for a 'relay' model that swapped drivers at pit stops so trucks kept moving and drivers got home nightly. Backed by Warburg Pincus and SAIF Partners, it reached a valuation of about $1.05B (₹8,200 crore) around 2019.

But the capital-intensive model bled cash; Rivigo sold off roughly 80% of its fleet, and a pivot to an asset-light model failed. In September 2022 it fire-sold its core B2B express business to Mahindra Logistics for about ₹225 crore (~$28M) — a fraction of what it had raised.

Source: Entrackr / Business Today / YourStory (India's first trucking/B2B-logistics unicorn, founded 2014, raised ~$300M; valued ~$1.05B (₹8,200 crore); cash-strapped, sold 80% of its fleet; Mahindra Logistics acquired its B2B express business in a Sept 2022 'slump sale' for ~₹225 crore)

Founder

  • Deepak Garg
    Founder & CEO
    Now Founder and CEO at AnywhereJobsLinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.

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