📺 Stream EntrepreneurTV for Free 📺

Shiprocket Raises $185 Million Funding From Zomato, Temasek This transaction marks Shiprocket's third round of funding in 2021, which would bring the total funds raised to $280 million

By S Shanthi

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company Handout

B2B logistics startup Shiprocket has raked in $185 million (INR 1,380 crore) Series E funding round. The round is being co-led by Zomato Ltd, Temasek and Lightrock India. New investors, Moore Strategic Ventures and 9unicorns, are also participating in this round, along with existing investors, InfoEdge Ventures and March Capital. This transaction marks Shiprocket's third round of funding in 2021, which would bring the total funds raised to $280 million.

Other notable investors in this round include some of India's leading entrepreneurs namely, Brijesh Agrawal (IndiaMART), Peyush Bansal (Lenskart), Sanil Sachar (Huddle Ventures), Varun Alagh (Mamaearth), Sameer Mehta & Aman Gupta (Boat Electronics) and Ashish Gupta (Helion Ventures).

Avendus Capital acted as the exclusive financial advisor to Shiprocket on this transaction.

Launched in 2017, Shiprocket's technology powers shipping and fulfillment for SMEs, D2C retailers, and social commerce sellers in India, across multiple categories including BPC, Apparel, Footwear, Electronics and Healthcare, among others.

Shiprocket will deploy the freshly infused capital towards aggressive core product expansion, research & development, talent acquisition, and development of a comprehensive suite of products that will help retailers deliver seamless, high-quality, post-order customer experience in line with that of large e-commerce platforms. A portion of the funds will also be directed towards the platform's new strategic initiatives, including (i) hyperlocal delivery services offering deliveries with low turnaround times (TATs), on the back of its extensive courier partnerships and growing fulfillment network and (ii) global expansion, starting with the Middle East.

Shiprocket will also actively look for inorganic expansion opportunities via M&A to further expand its stack in its endeavor to be a one-stop solution.

Saahil Goel, CEO and Co-founder, Shiprocket said in a statement, "We are excited about the vast, untapped opportunity that lies in post-purchase technology enablement in the D2C e-commerce space. Thrilled to welcome all our new partners as we gear up for our next phase of growth. This fundraise is a validation of the hard work put in by the entire Shiprocket team over the last 4 years."

"Shiprocket plugs a big hole in the e-commerce space by offering customers of direct-to-consumer brands a seamless post checkout experience, including delivery. We are excited to partner with Saahil and the team at Shiprocket as they march towards creating game-changing hyperlocal e-commerce infrastructure in the country," added Deepinder Goyal, CEO and Co-founder, Zomato.

S Shanthi

Former Senior Assistant Editor

Shanthi specializes in writing sector-specific trends, interviews and startup profiles. She has worked as a feature writer for over a decade in several print and digital media companies. 

 

Side Hustle

These Coworkers-Turned-Friends Started a Side Hustle on Amazon — Now It's a 'Full Hustle' Earning Over $20 Million a Year: 'Jump in With Both Feet'

Achal Patel and Russell Gong met at a large consulting firm and "bonded over a shared vision to create a mission-led company."

Business News

These Are the 10 Most Profitable Cities for Airbnb Hosts, According to a New Report

Here's where Airbnb property owners and hosts are making the most money.

Side Hustle

How to Turn Your Hobby Into a Successful Business

A hobby, interest or charity project can turn into a money-making business if you know the right steps to take.

Science & Technology

Service as a Strategy — How to Build a Sustainable, Future-Ready Tech Business

The benefits of transitioning from traditional SaaS models to service-based models — and how to do it successfully.

Business News

Samsung's New Ad Pokes Fun at Apple's Controversial 'Crush' Ad

Creative universes overlap in a new ad from Samsung.

Productivity

Want to Be More Productive? Here's How Google Executives Structure Their Schedules

These five tactics from inside Google will help you focus and protect your time.