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Shiprocket becomes India’s 106th unicorn, raised $33.5 million

Shiprocket, a logistics technology platform supported by Zomato, raised $33.5 million (about Rs 270 crore) in a fundraising round co-led by Temasek and Lightrock India, Shiprocket becoming the 106th unicorn in India. With the new capital, Shiprocket was valued at about $1.2 billion. Since its founding in 2017, Shiprocket has tripled in size and serves more than 66 million clients annually.

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Shiprocket: About

  • Shiprocket was established in 2017 and now serves more than 66 million customers annually while tripling in size year over year.
  • Omuni, a technology company owned by Arvind Internet Limited, was purchased by Shiprocket last month for Rs 200 crore in stock and cash.
  • Existing investors Huddle, March Capital, Moore Strategic Ventures, PayPal Ventures, and Bertelsmann India Investments participated in the Series E2 fundraising round as well.
  • For over $200 million in June, Shiprocket purchased the majority of shares in Pickrr, an e-commerce software-as-a-service (SaaS) platform for D2C brands and SME e-tailers (nearly Rs 1,560 crore).

Shiprocket Fund Raising: Highlights

  • According to a statement from Shiprocket, the additional funding would enable it to further develop its fulfilment and same-day delivery capabilities while also extending the functionality of its operating system.
  • The Shiprocket agreement would make use of the technology and resources of both firms to enable speedy, effective, hassle-free deliveries from the nearest store or warehouse in a bigger D2C commerce enabling segment.

Find More Business News HereShiprocket becomes India's 106th unicorn, raised $33.5 million_50.1

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