Shiprocket Raises $33.5 Million, Joins Unicorn Club
The Series E2 funding was co-led by Temasek and Lightrock India
E-commerce shipping enablement platform, Shiprocket, has raised $33.5 million (INR 270 crore) to become India's 106th unicorn. The Series E2 funding round was co-led by Temasek and Lightrock India along with participation from existing investors, Bertelsmann India Investments, March Capital, Moore Strategic Ventures, PayPal Ventures & Huddle.
Shiprocket empowers D2C brands, SME e-tailers and social commerce retailers with a full-stack logistics and fulfilment platform. This also includes same-day and next-day shipping, quick fulfilment, fast check-out, easy returns, and cross-border shipping, among many other features and services.
This investment will help Shiprocket further extend its operating system by building newer software and intelligence products along with deepening its capability in the fulfilment and same-day delivery experience which will help retailers deliver seamless, high-quality, post-order customer experience in line with that of large e-commerce platforms.
Speaking on the fundraise, Saahil Goel, CEO and co-founder, Shiprocket said, "Shiprocket is on its mission to be the de-facto customer experience platform for all direct commerce in India. We have consistently built the experience on the three core rails that are supply chain, workflow, and deep intelligence. This investment will help accelerate our roadmap and will also help us bring world-class ecommerce experiences to every direct commerce retailer in India."
Adding further, Saahil said, "We continue to be excited about the endless potential in India's e-commerce enablement market and have a once-in-a-lifetime opportunity to define how retailers interact with logistics operators and consumers to create consumer delight."