Zomato in talks to invest in Shiprocket $200M round
Online food delivery company Zomato is reportedly in talks to invest in Shiprocket’s $200 million round of funding, as per a Moneycontrol report. Zomato is allegedly looking to invest $75 million in the quick commerce logistics aggregator.
Shiprocket, apart from shipping services, assists retailers in integrating their online stores ina manner that boosts their workflow, inventory, and order management. The company has raised about $94 million till date, with its last round of funding raising $41.3 million in July led by PayPal Ventures and Bertelsmann India Investments. Zomato founder Deepinder Goyal is an angel investor in the company.
As per ECube Investment Advisors managing partner Harish HV commented on the growing quick commerce industry in India and said, “Companies are looking for innovative solutions to reduce these cost additions. The rise in the popularity of quick commerce is also increasing the demand for products to be available. You need to have a robust supply chain wherever your store is located with adequate stock.”
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