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[Portfolio News] Ripplr hires banker for Series B round, net sales set to grow sixfold in this fiscal

Posted on 11 March, 2022

Zephyr Peacock invests in small and medium sized enterprises operating across financial services, food and agriculture, and infrastructure ancillaries sectors. The Fund has invested in Ripplr, a tech-enabled logistics services provider and distributor of retail consumer products.

Click here to read the full story on 'Mint'

Below is an excerpt from the post that first appeared on Mint on 11 March 2022:

Ripplr, a tech-enabled distribution platform focussed on fast-moving consumer goods companies, has appointed an investment bank for its Series B funding as it seeks to launch new verticals and ‘uberise’ the platform through tie-ups with traditional distributors from smaller towns and cities.

In an interview, co-founders Abhishek Nehru and Santosh Dabke said it has mandated Investec to secure $40-50 million, including debt of around $10 million. However, they did not reveal the names of potential investors. A person familiar with the development said Ripplr is in talks with global venture capital funds and mid-market private equity funds and is seeking a valuation of $200 million, or nearly four times the post-money valuation of $52 million it clocked during an extended Series A round of $12 million late last year. Japanese conglomerate Sojitz Corp. and Stride Ventures led the funding, along with existing investors 3one4 Capital and Zephyr Peacock India Growth Fund in December.

Ripplr’s expectation of securing a high valuation stems from the significant jump in its net sales. In the first year of operations in 2019-20, Ripplr had clocked net sales of ₹8.15 crore, according to VCCEdge, the data intelligence platform of VCCircle. This increased to ₹47.4 crore in 2020-21.

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Zephyr Management is a global emerging markets investment manager, specializing in the creation and management of highly focused private equity funds

Since its inception in 1994, Zephyr has sponsored and/or managed 26 investment funds in both public and private securities markets representing approximately $1.2 billion in combined commitments and assets under management

Emerging Markets Focus

The firm has initiated several private equity funds investing in several African countries, South Korea, Mexico, India, and Sri Lanka since its founding. Zephyr's funds serve medium size enterprises that are often ignored by larger private equity players. Zephyr funds provide growth capital to established companies with proven business models and sustainable competitive advantages.

Investment activities are currently focused on India, Sri Lanka and Africa.

Zephyr Peacock India

Zephyr Peacock India provides equity financing for fast growing, small to medium sized companies led by strong entrepreneurs and management teams.

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Emerald Sri Lanka Fund

Emerald Fund provides equity financing for fast growing, small to medium sized (SME) Sri Lankan companies led by strong entrepreneurs & management teams.

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Zephyr Acorn provides equity

Zephyr Acorn provides equity financing and business support to innovative early-stage companies in East Africa.

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Active Portfolio Support

The firm's special expertise lies in bringing global best practices to medium-sized growing companies by assisting them in conceptualizing sustainable business strategy, management development, compensation, ESG, expansion outside of their home country, capital structure and positioning for stock exchange listing or trade sale.