Bengaluru-based startup Ripplr, which is a tech-enabled distributor of FMCG products, has raised $40 million in funding led by consumer-focussed venture investment fund Fireside Ventures.New investors including snackmaker Bikaji and sauce and dips maker Neo Foods also participated in the round along with existing investors 3one4 Capital, Zephyr Peacock and Japanese conglomerate Sojitz Corporation.The debt investors include Stride Ventures, Alteria Capital, Northern Arc Investments and Trifecta Capital. Santosh Dabke, cofounder of Ripplr, told ET that around $12 million is in the form of debt, while the rest is equity. He said that the investment from Bikaji and Neo Foods is strategic in nature as these companies are Ripplr’s clients as well.“Bikaji’s has a strong presence in north India and we have a strong presence in the south and they would want to leverage our capabilities to strengthen their presence here,” said Dabke.The fresh funding will be used to expand into more cities outside of south India and hire more people.Founded in 2019, Ripplr offers a plug-and-play service for brands to distribute their products to kirana stores. It has operations across 12 cities and claims to be operationally profitable.Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 StoriesRipplr had earlier raised $12 million in a funding round with a mix of equity and debt from Japanese firm Sojitz Corporation and Stride Ventures in December 2021