SUMMARY
After acquiring B2B logistic platform Rocketbox in January 2022, Shiprocket has bought a majority stake in Glaucus Supply Chain
This is the fourth major acquisition by Shiprocket after acquiring customer data platform Wigzo Tech, B2B logistics platform Rocketbox and SaaS platform Logibricks
Shiprocket and Glaucus Supply Chain have further agreed to merge in due course
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Tech-enabled logistics and fulfilment startup Shiprocket has acquired a majority stake in supply chain management startup Glaucus.
This is the fourth acquisition by the logistics startup in 2022 after acquiring customer data platform Wigzo Tech, B2B logistics platform Rocketbox, and SaaS platform Logibricks.
The transaction would allow Shiprocket to accelerate development solutions that would further accelerate speed, accuracy, and efficiency in the purchase process across trade channels.
Shiprocket cofounder and CEO, Saahil Goel said, “With our technology prowess, capital availability, and ability to focus on solving problems for our clients, we aspire to become the country’s largest provider of fulfilment services.”
“It is essential to build innovative, resilient solutions to unlock the next phase of growth for the industry at large. There is a need to remove the fulfilment complexity across B2B and B2C channels for our clients and help them focus on what they do the best,” Goel said.
Founded in 2015 by Vivek Kalra, Nitin Dhingra, Mandeep Kanwal, and Jayant Mahto, Glaucus’ key service offerings include B2B distribution, sales return management, D2C marketplace fulfilment, and managed transportation. Headquartered in Delhi, Glaucus provides enterprise-grade fulfilment services to mid-market brands supported by a mature combination of processes, geographic spread, quality reporting, and proprietary technology.
Launched in 2017, Shiprocket provides its services across 29,000 pin codes and has multiple solutions, including Shiprocket fulfilment, packaging, engage, and secure.
Shiprocket has so far raised over $354 Mn in funding. Its latest Series E funding round was led by Lightrock, Temasek Holdings and Zomato where it scooped up more than $185 Mn.
The startup also counts Tribe Capital, March Capital, PayPal Ventures, and Infoedge Ventures amongst its investors.
Before Glaucus Supply Chain and Rocketbox, the logistics startup acquired a 75% stake in Wigzo Tech for an undisclosed amount. The deal was pegged at around $20 Mn – $25 Mn.
Further, the logistics startup has invested $ 1.5 Mn in Logibricks, a SaaS platform that enables online retailers to seamlessly manage their end-to-end operations on the post-purchase side.
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