Distribution and logistics platform Ripplr is in the final stages of raising Rs 400 crore ($45 million) in a new funding round led by the State Bank of India (SBI), marking one of the rare equity investments by India’s largest lender into a startup. Existing backers 3one4 Capital, Zephyr Peacock, Sojitz Corporation, Fireside Ventures and Northern Arc are also expected to participate.
Funding Structure and Investor Participation
According to people familiar with the discussions, the round is structured across primary capital, secondary share sales, and a debt component.
Around $30–32 million will flow in as primary capital to fuel Ripplr’s operations and expansion plans. A further $10 million is expected to be secondary, enabling select early investors to dilute their stake and make room for new institutional backers. The remaining $3–5 million will come as debt earmarked for working-capital requirements.
SBI’s participation underscores a shift in how traditional financial institutions are engaging with supply-chain-focused startups building nationwide distribution infrastructure.
Valuation and Growth Plans
The ongoing round values Ripplr at $230–250 million (Rs 2,000–2,200 crore), more than doubling its valuation from $100 million in 2023. The company plans to deploy the funds to expand its FMCG-focused distribution network, deepen reach across metros and emerging cities, and strengthen its fast-growing electronics distribution vertical. Ripplr also intends to scale its network of micro-fulfilment centres beyond the current six.
A Plug-and-Play Distribution Backbone
Founded in 2019 by Abhishek Nehru and Santosh Dabke, Ripplr offers Distribution-as-a-Service (DaaS) to consumer brands, helping them increase retail visibility, speed up inventory movement and access real-time logistics insights. The company has raised over $90 million so far, according to Tracxn.
Final Take
With SBI joining the cap table and fresh capital on hand, Ripplr is poised to accelerate its nationwide distribution play at a time when FMCG and electronics brands are seeking predictable, tech-driven delivery networks.
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