B2B logistics Startup Shiprocket to raise $185 million from Zomato and others

B2B logistics platform Shiprocket to raise $185 million.According to Zomato’s quarterly report, Zomato is one of the new investors who will invest around $75 million for an 8% stake in the company. The new round is expected to attract more new investors as well as existing investors.

Shiprocket is India’s best logistics software, which offers you automated shipping solution. PayPal Ventures and existing investors Bertelsmann India Investment, Info Edge Ventures, March Capital, and Tribe Capital, among others, contributed $41.3 million to the startup in July of this year.

Logistics technology platform Shiprocket on Friday said it has signed a definitive agreement for a $185 million (₹1,380 crore) Series E funding round, co-led by Zomato, Temasek and Lightrock India.

This marks Shiprocket’s third round of funding in 2021, bringing the total funds raised to $280 million.

Shiprocket focuses on providing Amazon Prime-like shipping experiences for sellers and consumers across India in direct-to-consumer e-commerce.

Logistics startup Shiprocket raises $185 million from Zomato and others

IANSDEC 10, 2021, 11:55 ISTShiprocketIANSLogistics technology platform Shiprocket on Friday said it has signed a definitive agreement for a $185 million (₹1,380 crore) Series E funding round, co-led by Zomato, Temasek and Lightrock India.

This marks Shiprocket’s third round of funding in 2021, bringing B2B the total funds raised to $280 million.

Shiprocket focuses on providing Amazon Prime-like shipping experiences for sellers and consumers across India in direct-to-consumer e-commerce.

Advertisement”We are excited about the vast, untapped opportunity that lies in post-purchase technology enablement in the D2C e-commerce space. This fundraise is a validation of the hard work put in by the entire Shiprocket team over the last 4 years,” said Saahil Goel, CEO and Co-founder, Shiprocket.

New investors, Moore Strategic Ventures and 9unicorns, are also participating in this round, along with existing investors, InfoEdge Ventures and March Capital.

Launched in 2017, Shiprocket is the fastest company to become profitable in 24 months while also doubling its ARR (annual run rate) over the last 6 months.

Shiprocket said it will deploy fresh funds towards aggressive core product expansion, research and development, talent acquisition, and development of a comprehensive suite of products for retailers.

“With the launch of our services in the Kingdom of Saudi Arabia in November 2021, we have also taken the first step towards expanding our footprint in new geographies,” said Goel.

Shiprocket also provides a technology stack to help retailers integrate their shopping websites on Shopify, Magento, WooCommerce, Zoho and others for workflow, inventory and order management.

“Shiprocket plugs a big hole in the e-commerce space by offering customers of direct-to-consumer brands a seamless post checkout experience, including delivery,” said Deepinder Goyal, CEO and Co-founder, Zomato.

logistics startup Shiprocket has raked in $185 million (INR 1,380 crore) Series E funding round. The round is being co-led by Zomato Ltd, Temasek and Lightrock India. New investors, Moore Strategic Ventures and 9unicorns, are also participating in this round, along with existing investors, InfoEdge Ventures and March Capital. This transaction marks Shiprocket’s third round of funding in 2021, which would bring the total funds raised to $280 million.

Other notable investors in this round include some of India’s leading entrepreneurs namely, Brijesh Agrawal (IndiaMART), Peyush Bansal (Lenskart), Sanil Sachar (Huddle Ventures), Varun Alagh (Mamaearth), Sameer Mehta & Aman Gupta (Boat Electronics) and Ashish Gupta (Helion Ventures).

Avendus Capital acted as the exclusive financial advisor to Shiprocket on this transaction.

Launched in 2017, Shiprocket’s technology powers shipping and fulfillment for SMEs, D2C retailers, and social commerce sellers in India, across multiple categories including BPC, Apparel, Footwear, Electronics and Healthcare, among others.

Shiprocket will deploy the freshly infused capital towards aggressive core product expansion, research & development, talent acquisition, and development of a comprehensive suite of products that B2B will help retailers deliver seamless, high-quality, post-order customer experience

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