Shiprocket recently rocketed on their way to closing $185M in a Series E round

Shiprocket recently rocketed on their way to closing $185M in a Series E round

India thrives on its Logistics sector.

It is poised for growth and innovation.

In the recent past, a lot of startups have tried to streamline eCommerce for the Indian consumer.

Shiprocket is one of them!

Rather India’s only automated shipping solution for eCommerce.

Co-Founded by Sahil Goel, Akshay Ghulati, Gautam Kapoor & Vishesh Khurana, 

Shiprocket is a tech-enabled logistic platform that provides affordable plans to MSMEs. Making it easier for them to come online and sell to anywhere they want.

A product of Bigfoot Retail Solution Pvt. Ltd., Shiprocket lets you choose from 17+ courier partners, print shipping labels and track orders from a single panel.

It also processes returns from an integrated dashboard.

Apart from the shipping automation, Shiprocket offers negotiated freight rates with its top-rated shipping partners like FedEx, Bluedart, Delhivery & Ecom Express.

The company aims to help its sellers grow their businesses by providing the widest pin-code serviceability. It has set its vision on helping the Indian SMBs by taking their business online.

The company also introduced an eCommerce fulfilment and warehousing solution – Shiprocket Fulfillment. 

This solution helps the seller :

  • Manage sudden order spikes
  • Reduce weight-related issues
  • Lessen the number of returned orders
  • Reduce manual error
  • Increase the delivery speed

Growth & Stats

Shiprocket identified a 214% increase in D2C sellers on its platform and a 107% upsurge in the volume of shipments last year. With multiple drivers of growth in various segments, Shiprocket also noted a 188% surge in online sellers during Q3 of 2020.

Its current annualised revenue run-rate is around $90-100 million.

Shiprocket’s monthly active merchant base has gone up to around 75,000 from 60,000 in July. A sizable chunk of these merchants is D2C brands.

Annually, it now has an active merchant base of 175,000

It is also integrated with the top 17 courier partners and delivers to 

29000 serviceable pin codes in India & 220 countries.

Funding & Investors

In a recent Series E funding round, Shiprocket closed  $185 million (Rs 1,380 crore) . The round co-led by Zomato , Singapore’s sovereign wealth fund Temasek and Lightrock India.

Moore Strategic Ventures and 9unicorns were the new investors in the funding round. The round also saw participation from the existing investors InfoEdge Ventures and March Capital.

In this round, Zomato invested $75 million while Temasek brought in $50 million and Lightrock $40 million. Info Edge Ventures invested $10 million and  Moore Capital $5 million. The remaining has come from various individual investors.

This is the third funding round this year, taking the total funds raised to $280M.

The company’s valuation is perceived to be $900-950 million though it isn’t confirmed by the official sources.

Shiprocket will deploy the new capital towards aggressive core product expansion, research and development, talent acquisition and product development. 

A portion of the funds will also be directed towards the platform’s new strategic initiatives. This includes starting hyperlocal delivery services offering deliveries with low turnaround times (TATs), on the back of its extensive courier partnerships. 

The company also aims to focus on its growing fulfilment network and global expansion, starting with the Middle East as per their official press release.

Well, Shiprocket is surely rocketing on its way to success!

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