Friday, March 29, 2024
News

Shiprocket raises $33.5 mn, becomes India's 106th unicorn

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Thursday, 2022 3:45:10 AM IST
Zomato-backed logistics technology platform Shiprocket on Wednesday became India's 106th unicorn after raising $33.5 million (about Rs 270 crore) in a funding round co-led by Temasek and Lightrock India.

Shiprocket was valued at around $1.2 billion with the fresh round of funding.

The fresh funds will help Shiprocket extend its operating system by building newer software and intelligence products along with deepening its capability on the fulfilment and same-day delivery experience, it said in a statement.

The Series E2 funding round also saw participation from existing investors, Bertelsmann India Investments, March Capital, Moore Strategic Ventures, PayPal Ventures and Huddle.

"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," said Saahil Goel, CEO and Co-founder, Shiprocket.

Launched in 2017, Shiprocket delivers packets to more than 66 million consumers annually and is growing 3 times year on year.

Last month, Shiprocket acquired omnichannel commerce company Arvind Internet Limited's technology business called 'Omuni' for Rs 200 crore in a stock and cash deal.

The deal will leverage both companies' technology and resources to enable quick, efficient, hassle-free deliveries from the closest store/warehouse in a larger D2C commerce enablement segment,, Shiprocket said in a statement.

In June, Shiprocket acquired a majority stake in Pickrr, an ecommerce software-as-a-service (SaaS) platform for D2C brands and SME e-tailers for around $200 million (nearly Rs 1,560 crore).

--IANS na/

( 248 Words)

2022-08-17-21:54:03 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE SCIENCE NEWS
AI technique accurately predicts deadly ...
Researchers discover new approach to tre...
Researchers discover how gene mutation r...
Climate change disrupts vital ecosystems...
Study finds how ageing reduces ability o...
Israeli researchers uncover biological p...
More...
 
INDIA WORLD ASIA
Telangana: Fire breaks out at dump yard ...
'My father was being given slow poison; ...
Uttar Pradesh: Security tightened in Ali...
'Three parties have allied directly...':...
Eknath Shinde's Shiv Sena releases first...
Jailed gangster-turned-politician Mukhta...
More...    
 
 Top Stories
EAM Jaishankar shares glimpse from ... 
"My father was being given slow poi... 
South Africa's former President Jac... 
Pakistan Tehreek-e-Insaf to hold ra... 
Uttar Pradesh: Security tightened i... 
Miami Open: Bopanna-Ebden storms in... 
Anju Bobby questions IOA's decision... 
"Three parties have allied directly...