Zomato-backed Shiprocket, an e-commerce shipping enablement platform, has signed definitive agreements for a $33.5 million (₹270 crore) Series E2 funding round co-led by Temasek and Lightrock India along with participation from existing investors including Bertelsmann India Investments, March Capital, Moore Strategic Ventures, PayPal Ventures and Huddle.
This round is estimated to have valued Shiprocket at $1.2 billion. The company aims to democratise e-commerce, and give retailers a single platform to manage their shipping, fulfilment, customer engagement, and an end-to-end solution to manage their operations.
Specifically, Shiprocket provides D2C brands, SME e-tailers and social commerce retailers a full-stack logistics and fulfilment platform. This also includes same-day and next-day shipping, quick fulfillment, fast check-out, easy returns, and cross-border shipping, among other features and services.
This investment will help Shiprocket further extend its operating system by building newer software and intelligence products along with deepening its capability on the fulfilment and same-day delivery experience which will help retailers deliver seamless, high-quality, post-order customer experience in line with that of large e-commerce platforms.
Speaking on the fundraise, Saahil Goel, CEO and Co-founder, Shiprocket said, “Shiprocket is on its mission to be the de-facto customer experience platform for all direct commerce in India. We have consistently built the experience on the three core rails that are supply chain, workflow, and deep intelligence. This investment will help accelerate our roadmap and will also help us bring world-class e-commerce experiences to every direct commerce retailer in India.”
Adding to this, Goel said, “We continue to be excited about the endless potential in the India’s e-commerce enablement market and have a once-in-a-lifetime opportunity to define how retailers interact with logistics operators and consumers to create consumer delight.”
Shiprocket is a ecommerce logistics aggregator and enablement platform for SMBs. The technology powers shipping and fulfillment for SMEs, D2C retailers, and social commerce sellers in India. With over 17 courier partners on board, the brand enables pan-India as well as international shipping deliveries. Its shipping solutions are available across 29,000+ pin codes within India and 220 countries worldwide.
Launched in 2017, Shiprocket is currently powering 2.5 lakh plus sellers who generate a GMV of more than $1.5 billion annually on the platform. The brand said it delivers packets to more than 66 million consumers annually and is growing 3X year-on-year.