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Friday, February 23, 2024

Zomato-backed Shiprocket, valued at $1.2 billion, is India’s 106th unicorn

Zomato-backed logistics know-how platform Shiprocket on Wednesday turned India’s 106th unicorn after elevating $33.5 million (about Rs 270 crore) in a funding spherical co-led by Temasek and Lightrock India.

Shiprocket was valued at round $1.2 billion with the contemporary spherical of funding.

The contemporary funds will assist Shiprocket lengthen its working system by constructing newer software program and intelligence merchandise together with deepening its functionality on the fulfilment and same-day supply expertise, it mentioned in an announcement.

The Sequence E2 funding spherical additionally noticed participation from present buyers, Bertelsmann India Investments, March Capital, Moore Strategic Ventures, PayPal Ventures and Huddle.

“This funding will assist speed up our roadmap and also will assist us carry world-class e-commerce experiences to each direct commerce retailer in India,” mentioned Saahil Goel, CEO and Co-founder, Shiprocket.

Launched in 2017, Shiprocket delivers packets to greater than 66 million customers yearly and is rising 3 instances 12 months on 12 months.

Final month, Shiprocket acquired omnichannel commerce firm Arvind Web Restricted’s know-how enterprise known as ‘Omuni’ for Rs 200 crore in a inventory and money deal.

The deal will leverage each corporations’ know-how and assets to allow fast, environment friendly, hassle-free deliveries from the closest retailer/warehouse in a bigger D2C commerce enablement section,, Shiprocket mentioned in an announcement.

In June, Shiprocket acquired a majority stake in Pickrr, an ecommerce software-as-a-service (SaaS) platform for D2C manufacturers and SME e-tailers for round $200 million (almost Rs 1,560 crore).

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