The acquisition arrives soon after Shiprocket declared its commitment to obtain a majority share in Delhi-based Wigzo Tech. Shiprocket, a logistics aggregator backed by Zomato, has acquired B2B logistics company Rocketbox, allowing Delhivery, which had invested in 2015, to depart.
Shiprocket will be able to improve its infrastructure and expand its product stack for D2C customers and SMEs as a result of the move.
Rocketbox began as an intra-city on-demand truck supplier in June 2015, when it gathered 5,000 drivers on its platform. Rocketbox introduced its application suite, which includes vendor payment, client billing, fleet management, client dashboard, and driver app, following a Series A funding round from Delhivery and the growth of operations.
The founders and employees will join Shiprocket following the acquisition and continue to develop the company’s cargo offering.
“Given the rapidly changing consumer expectations and their preference for quick, seamless deliveries, it’s imperative to ensure all legs of the supply chain are optimised. Rocketbox has a cutting-edge platform that extends Shiprocket’s capabilities to B2B use-cases and bulk movement using cargo carriers. The platform brings along a host of features which will help retailers to save time, cost, and effort, allowing a smooth end-to-end logistics experience,” said Saahil Goel, co-founder and CEO of Shiprocket.
Rocketbox’s AI-enabled solutions provide consumers with comparative analysis, allowing them to find the best courier partner for their needs and budget.
Shiprocket, a logistics aggregator, attracted Zomato as an investor last year. It reached an agreement to raise $185 million in a Series E financing headed by Zomato and Singapore’s sovereign wealth fund Temasek.
Goel previously told that Shiprocket will utilise the funds for acquisitions, among other things. Shiprocket, a logistics aggregator, attracted Zomato as an investor last year. It reached an agreement to raise $185 million in a Series E transaction headed by Zomato and Singapore’s sovereign wealth fund Temasek.