Troubled logistics tech unicorn Rivigo held talks with Flipkart, FirstCry for a sale

Rivigo has held talks with ecommerce marketplace Flipkart, and omnichannel baby products retailer FirstCry for a potential sale, multiple sources aware of the matter told ET. The logistics tech unicorn has struggled to raise fresh funds as investors turn skittish due to the ongoing economic slowdown.

The discussions around Rivigo’s acquisition are still preliminary and may or may not result in a deal, said these people who spoke on the condition of anonymity. Rivigo, they said, had evaluated merging its operations with Flipkart’s logistics arm e-Kart, and FirstCry’s e-commerce focussed logistics unicorn Xpressbees.