Indian logistics startup Shiprocket raises USD 185 million in Series E

India-based Shiprocket, an eCommerce shipping and enablement platform allowing you to choose from over 17 courier partners, print shipping labels, and track orders from one place, raised USD 185 million on 10th December.

Investors: The investment round was co-led by Zomato Ltd, Temasek, and Lightrock India. Along with existing investors InfoEdge Ventures and March Capital, two new investors, Moore Strategic Ventures and 9unicorns, participated in the round. The round was also attended by Brijesh Agrawal (IndiaMART), Peyush Bansal (Lenskart), Sanil Sachar (Huddle Ventures), Varun Alagh (MamaEarth), Sameer Mehta & Aman Gupta (Boat Electronics), and Ashish Gupta (Helion Ventures).

Purpose of funding: The startup plans to use the funds to expand its eCommerce business for the fast-growing D2C retailers market. It plans to use the freshly injected capital to expand its core products, research, and development, recruit talent, and create a comprehensive set of products. In addition, it plans to provide first-class post-order experiences comparable to those offered by large e-commerce platforms.

About Shiprocket

Founded in 2017 by Gautam Kapoor, Saahil Goel, Vishesh Khurana, Shiprocket is located in New Delhi, India. Shiprocket enables direct-to-consumer retailers to offer cost-effective delivery through its eCommerce shipping platform. In addition to BPC, apparel, footwear, electronics, and healthcare, it allows shipping and fulfilment for D2C retailers, SMEs, and social commerce sellers. Furthermore, Shiprocket offers exclusive freight rates with top carriers like FedEx, Bluedart, Delhivery & Ecom Express. The startup offers a variety of delivery methods, including air and ground transportation. It can be integrated with over six other websites and marketplaces, including Amazon, eBay, Magento, Opencart, and Shiprocket 360. Additionally, Shiprocket Fulfilment can handle warehousing, order fulfilment, and shipping.

What the founder has to say

“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 four years,” said Saahil Goel, CEO and Co-founder at Shiprocket.

“As the market leader in aggregated shipments for the SME and D2C market selling online, we aim to set the benchmark for the post-purchase experience while delivering significant value to all our stakeholders. We are on track to launch hyperlocal delivery options which will guarantee low TAT and best in class SLAs, further cementing our position as the preferred shipping and enablement partner. With the launch of our services in the Kingdom of Saudi Arabia in November 2021, we have also taken the first step towards expanding our footprint in new geographies.”

What the investors have to say

“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,” said Deepinder Goyal, CEO and Co-founder at Zomato Ltd.

“We are thrilled to partner with the team at Shiprocket as they build the logistics and fulfilment operating system that will power the growth of the e-commerce and D2C markets. We believe this to be the critical piece for the transformation of the largest, youngest, fast-growing, and most diverse consumer market in the world,” said Vaidhehi Ravindran, Partner at Lightrock.

“The next stage of India’s e-commerce growth is driven by the D2C revolution. For a fragmented D2C base, faster, cheaper, and reliable shipping and fulfilment is no longer a luxury but a necessity. Shiprocket is leading the digital enablement of logistics and post-purchase solutions for India’s heavily fragmented seller base. With a strong founding team, rapid growth, and a profitable business model, Shiprocket is well-positioned to make great strides in D2C enablement and logistics-tech,” said Pankaj Naik, Executive Director & Co-Head, Digital, and Technology Investment Banking at Avendus Capital.

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