Your browser is currently blocking notification.
Please follow this instruction to subscribe:
X
Notifications are already enabled.
X

Logistics Startup Shiprocket To Raise $185 Mn From Zomato, Others

Logistics Startup Shiprocket To Raise $185 Mn From Zomato, Others

Food delivery platform Zomato will be investing $75 Mn in Shiprocket for 8% stake

In July this year, Shiprocket closed $41.3 Mn from PayPal Ventures along with Bertelsmann India, Info Edge and others to expand operations in Middle East

Shiprocket claims to have a monthly active merchant base of 60,000 with 10,000 D2C brands. 

Gurugram-based B2B logistics platform Shiprocket is closing a fresh round investment worth $185 Mn. As per Zomato’s quarterly report, Zomato is one of the new investors who will be pumping around $75 Mn for 8% stake in the company. It is expected that more new investors along with existing investors will participate in the new round.

The startup last bagged $41.3 Mn in July this year from PayPal Ventures and its existing investors Bertelsmann India Investment, Info Edge Ventures, March Capital, and Tribe Capital among others.

Razorpay, CRED founder Kunal Shah, Zomato CEO and cofounder Deepinder Goyal had also participated in this round of funding.

Back then the startup said it will utilise the fresh capital for its expansion to the Middle East market including Saudi Arabia.

Founded in 2017 by Gautam Kapoor, Saahil Goel and Vishesh Khurana, Shiprocket is a tech-enabled logistics aggregator that enables global and domestic shipping for marketplace sellers and direct-to-consumer (D2C) ecommerce businesses.

Shiprocket offers to help online sellers ship their products and manage logistics. It claims to have a monthly active merchant base of 60,000 with 10,000 D2C brands. Last year, the company had launched Shiprocket Fulfillment which claims to offer same-day and next-day deliveries for all ecommerce businesses to cut down on marketplace dependency.

Since its launch, it has acquired more than 200 clients and handles deliveries of 1.5 Lakh orders a month, the company claims.. Goel has earlier told Inc42 that Shiprocket clocked $49.7 Mn in revenue in FY21.

In February this year, the startup had raised $27 Mn in its Series C round. Back then, the round was co-led by Tribe Capital, a Silicon Valley venture capital along with March Capital Partners. Rahul Mehta of DST Global also participated in the round.

Recently, logistics unicorn Delhivery has filed its DRHP as it is eying to raise INR 7,460 Cr in IPO. Another logistics platform Ecom Express has also converted into a public company as it gears for an IPO at a valuation of $1.5 Bn – $1.8 Bn.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.