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The Competition Commission of India (CCI) has granted approval for KDT Venture Holdings, LLC (KDT) to acquire a stake in Shiprocket Private Limited.
According to the Competition Commission of India, the transaction involves KDT, a United States-based early-stage venture capital firm, acquiring a specific shareholding in Shiprocket, a leading logistics platform in India. Shiprocket provides domestic and international logistics services to businesses through its network of logistics service providers. KDT is a wholly owned subsidiary of Koch, Inc., and has a diversified investment portfolio spanning sectors such as healthcare, supply chain, manufacturing, cybersecurity, semiconductors, fintech, and energy transformation. With investments in the US, Israel, and the UK, this deal marks KDT's strategic entry into the Indian logistics domain. Shiprocket's platform has played a pivotal role in enabling businesses, especially small and medium enterprises (SMEs), to access reliable and scalable logistics solutions. The acquisition is expected to bolster Shiprocket's capabilities by leveraging KDT's expertise in supply chain innovations and global best practices. The CCI's approval is a crucial regulatory milestone, ensuring compliance with India's competition laws. A detailed order from the Commission on the transaction is expected to follow soon, providing further clarity on its scope and implications. (ANI)
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