Logistics software Shiprocket raises $185 million in Series E funding.
- ByStartupStory | December 10, 2021
Logistics software startup, Shiprocket has raised an amount of $185 million in a Series-E funding co-led by Zomato, Tamasek and Lightrock India. The company’s valuation post funding round is expected to be around $900-$950 million.
Zomato, Temasek and Lightrock have invested $75 million, $50 million and $40 million respectively. Info Edge Ventures put in $10 million while Moore Capital invested $5 million. The remaining has come from various individual investors.
Shiprocket will deploy the new capital towards aggressive core product expansion, research and development, talent acquisition and product development while a portion of the funds will also be directed towards the platform’s new strategic initiatives. Mr.Goel added,”We are on track to launch hyperlocal delivery options which will guarantee low TAT and best in class service level agreements (SLAs)”
Shiprock’s co-founder Saahil Goel had set up Bigfoot Retail in 2012 and pivoted to the latest model of Shiprocket in 2017. It aggregates demand from direct-to-consumer (D2C) brands, micro-entrepreneurs and local brands and sends them to logistics players like Delhivery, Ecom Express and others.Besides shipping services, Shiprocket also offers its technology stack to retailers to integrate their shopping websites on platforms like Shopify.
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