Ashok Leyland Gets 1200 Trucks Order from Tech Start-up Rivigo
Published On Aug 12, 2016
In a move which shows both India’s growing start-up ecosystem and good days of the commercial vehicle industry, technology-based start-up Rivigo has ordered for 1,200 trucks from Ashok Leyland. This order would really boost the numbers for the CV maker which fell during July after showing prominence in the first quarter of FY17. The order is for intermediate trucks from the automaker’s marquee BOSS truck series.
Rivigo, on the other hand, will become one of the top five in surface transport industry that currently is being dominated by small fleet owners having fleet size of 5-10. The tech start-up’s fleet size will be near to 2,700, expanded by 80 percent. The order will however, will take 6-7 months to be completed.
Rivigo has recently raised US $40 million till date from SAIF Partners, a venture and growth capital fund, and a little sum from financing firm Trifecta Capital. Commenting about the order Mr. Deepak Garg, Found and CEO, Rivigo, said, “This order is a testimony of our commitment to offer the best in services and thus create value for our customers. The company is aiming to have the largest fleet in the industry, he added without sharing the value of the order. With this order, the company is placed among top five of the surface transport industry which is otherwise dominated by small fleet owners with an average fleet size of 5-10 trucks.”