New Delhi, May 10 (IANS): Tech distribution and logistics platform Ripplr on Wednesday said it has raised $40 mn in a Series B round led by Fireside Ventures.

The startup said it will use the funds to strengthen its supply chain tech platform, grow its team and expand into newer geographies.

Bengaluru-based Ripplr has raised a total of $56 million so far.

The new fundraising also saw participation from new investors Bikaji and Neo Foods along with existing investors 3one4 Capital, Zephyr Peacock and Japanese conglomerate Sojitz Corporation.

The round also witnessed debt participation from Strides Ventures, Alteria Capital, Northern Arc Investments and Trifecta Capital.

"With this round, we are aiming to increase our geographical footprints in India to solve the reach and visibility complications faced by all the FMCG Brands in offline distribution and supply chain," said Abhishek Nehru and Santosh Dabke, Co-founders of Ripplr.

Set up in 2019, Ripplr offers distribution as a service (DaaS) to brands managing and digitising operations, helping create visibility and reach with a management layer for the supply chain.

"We at Fireside Ventures believe that there is a massive untapped potential in plug-and-play retail and are certain that Ripplr's distribution platform operating at scale across the country will unlock the potential in the offline retail space," said VS Kannan Sitaram, Co-Founder and Partner, Fireside Ventures.