Founded in 2017 by Gautam Kapoor, Saahil Goel and Vishesh Khurana, the startup’s platform controls shipping, order processing and completion for small and medium businesses, direct-to-consumer retailers, and social commerce vendors.
Shiprocket, an e-commerce shipping and enablement platform has signed definitive agreements to raise $185 million ( ₹1380 crore) as part of its Series E funding round co-led by Zomato Ltd, Temasek Holdings and Lightrock India.
New investors Moore Strategic Ventures and 9unicorns also participated in the round, Shiprocket stated. Current investors InfoEdge Ventures and March Capital contributed to this investment round.
Online food delivery platform Zomato on November 10 declared a $175 million investment over three homegrown startups — Shiprocket, Curefit and Magicpin — intending to broaden its bets following a blockbuster public listing. It further plans to dispose of another $1 billion over the next 1-2 years, with a significant focus on the immediate commerce space. This could be a part of that.
Prominent individual investors including Brijesh Agrawal (IndiaMART), Peyush Bansal (Lenskart), Sanil Sachar (Huddle Ventures), Varun Alagh (Mamaearth), Sameer Mehta and Aman Gupta (Boat Electronics) and Ashish Gupta (Helion Ventures) also pooled in the capital as part of this investment round.
Shiprocket, operated by BigFoot Retail Solutions Pvt. Ltd plans to use the fresh capital for developing a comprehensive suite of products, research and development, and hiring. The firm said that the funds will also be deployed for multinational evolution and offer hyperlocal deliveries with low turnaround times.
Saahil Goel, CEO and co-founder, Shiprocket, told the enterprise is on track to establish its hyperlocal delivery options, guaranteeing low turnaround times. He added the company joined the international market last month by initiating its services in Saudi Arabia. The startup also intends to “actively” explore mergers and acquisitions for development.
Established in 2012, the parent company of Shiprocket has seen multiple pivots over the years. Its current avatar works with courier firms in India and connects merchants, consumers, and supply-chain partners across thousands of pin codes worldwide.
Apart from shipping services, Shiprocket also offers a technology stack to assist retailers in integrating their online stores such as Shopify, Magento, WooCommerce and Zoho for workflow, inventory, and order management.
The company has, so far, raised around $94 million, with the last funding coming in July when it raised $41.3 million. It was Series-D1 funding led by PayPal Ventures and existing investor Bertelsmann India Investments.
