October 18, 2019: Logistics-tech unicorn, Rivigo, has today announced a shift in their focus of business from freight marketplace to Relay-as-a-Service (RaaS).
The shift to the relay trucking model that they have launched in August 2019 is explained as to directly address the inefficiencies in trucking and solve the challenges faced by small fleet owners while providing better customer service.
300 crore to its topline registering a 45% annual growth last year, a more than four-fold rate compared to the growth for the entire logistics sector.
It is all set to become one of the first unicorns to turn profitable, expecting to become cash breakeven in the current fiscal itself.
Focused on profitable growth since the beginning of the year, the company has shifted focus away from building a freight marketplace, says the release.
Commenting on the shift in focus, Gazal Kalra, co-founder, Rivigo, said, “We believe it is important to build a freight marketplace with real value for customers and fleet owners.