India-based Shiprocket, an e-commerce shipping startup enabling cost-effective shipping for D2C retailers, has bagged US$ 41.3 million in a Series D1 funding round co-led by PayPal Ventures, Info Edge Ventures and Bertelsmann India Investments on 7 July 2021.
Investors: The Series D1 investment round featured PayPal Ventures, Info Edge Ventures and Bertelsmann India Investments as the lead investors with participation from March Capital, Razorpay, Tribe Capital and InnoVen Capital. Leading entrepreneurs such as Kunal Shah, Founder of Cred and Deepinder Goyal, Founder of Zomato, also participated.
Purpose of the funding: The startup seeks to deploy the proceeds from the latest investment round towards product development for existing and upcoming products, investment in research and development, market expansion to set the pace for overall growth.
About Shiprocket
Launched in 2017 by Gautam Kapoor, Saahil Goel and Vishesh Khurana, Shiprocket’s services involve executing machine learning algorithms to estimate delivery dates accurately, aid merchants select across several courier partners, alleviating RTO deceit, and consistently send tracking updates to the purchaser. Shiprocket’s vision is to create a technology that assists merchants in growing their D2C operations, secure reliability, enhance transformation, and provide next-day delivery service. Furthermore, the startup seeks to offer retailers the complete backend framework of a vast market on its platform. Shiprocket today deals with over 5 million monthly consignments, allowing nearly 100,000 suppliers to sell explicitly to their target buyers across India.
What the Founder has to say: “Shiprocket is standardizing high-end services for e-commerce enterprises shipping thousands of goods every month using its platform. We are excited about the huge potential and chances available to us in the shipping domain. We are happy to receive financial support from PayPal Ventures and Info Edge Ventures as they join our existing investors.”- Saahil Goel, CEO and Co-Founder of Shiprocket.
What the Investors have to say: “Shiprocket’s excellence is owed to its well-built products that offer effective solutions for resolving major shortcomings faced by the shipping enterprises as they grow. Joining hands with Shiprocket delights us, and we look forward to supporting their development plans.”- Marc Donnadieu, Director of PayPal Ventures. “It is exhilarating to continue supporting Shiprocket, which envisages bolstering India’s D2C network. The startup has created intense technology and AI products capable of raising the user experience to a superior level.”- Pankaj Makkar, Managing Director of Bertelsmann India Investments.
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
Next Article
[…] Next Article […]