Shiprocket acquires a majority stake in Pickrr for the $200 million deal closure

• ByStartupStory     |    June 16, 2022

Shiprocket, a logistics software firm financed by Zomato, has agreed to buy a controlling position in Pickrr for an estimated $200 million in cash, equity, and earn-out. In a Series E financing headed by Zomato and Singapore’s government wealth fund Temasek, Shiprocket received $185 million last year.

The brand stated that with the consolidation, various enablers and suppliers will be able to support the ever-growing digital store community through a single portal. It aspires to improve its position as the top D2C enablement operating system. The firms will provide D2C businesses with a full-stack logistics and fulfilment platform that includes, among other things, same-day and next-day delivery, quick fulfilment, quick check-out, easy returns, and cross-border shipping.

Saahil Goel, co-founder and CEO of Shiprocket said that the company has a once-in-a-lifetime chance to define how merchants connect with logistics operators and customers to produce consumer joy. By developing the foundations of this software infrastructure, Shiprocket and Pickrr are ideally positioned to seize this opportunity. Through the hundreds of connectors, it has with various companies, the unified platform will include shipping partners, warehousing providers, shopping carts, marketplaces, ERP systems, payment players, identity and credit information providers, and many more. This merger will also result in a company that serves more than 75,000 merchants.

Gaurav Mangla, co-founder of Pickrr said that we analysed what the purchase of Pickrr may represent, and we were clear that it would be mutually advantageous, not only for the two platforms but for the whole e-commerce logistics market. Both Shiprocket and Pickrr are industry leaders, and we’re excited to collaborate with them to develop cutting-edge solutions and propel the e-commerce logistics sector into its next phase of growth.”

Shiprocket was founded in 2017 as a DIY technology stack aimed at social sellers and small businesses. Pickrr, on the other hand, has been developing an operation-plus-technology package for major brands and businesses since 2018.

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