Delhi, India-based tech-enabled logistics solutions company Shiprocket acquired a majority stake in Pickrr on June 15, 2022. Pickrr, a rival company for Shiprocket, is also a Delhi-based e-commerce SaaS platform for D2C brands and SMEs e-tailers.
The acquisition cost Shiprocket roughly USD 200 million. The transaction is a mix of cash, equity as well as earn-out.
Purpose of Acquisition by Shiprocket
The recent acquisition will aid Shiprocket in emerging as India’s largest and fastest-growing e-commerce enablement platform.
With the acquisition, both companies can offer a full-stack logistics and fulfilment platform to D2C brands, SME (Small-to-Medium Enterprises) e-tailers, and social commerce retailers. Their services include same-day and next-day shipping, quick fulfilment, fast check-out, easy returns, and cross-border shipping, among others.
The two platforms process 10 million monthly shipments and possess a customer base of over 75,000 merchants. Pickrr, set up in 2018, operates in the Indian D2C sector.
Earlier in January 2022, Shiprocket purchased Rocketbox, a B2B logistics aggregator. The amount of the acquisition wasn’t disclosed. Besides, Shiprocket concluded two other M&As this year: customer data firm Wigzo Tech and supply chain management firm Glaucus.
The company also raised USD 185 million in November 2021. Zomato and Temasek co-led the funding back then.
What the founder of Shiprocket has to say
Saahil Goel, Co-founder and CEO of Shiprocket, said, “We are excited to have Pickrr as part of the Shiprocket family, combining the two largest platforms enabling direct commerce. Together, we will define the future of e-commerce enablement in India, creating the most comprehensive enablement software stack that every retailer can use to drive success in their digital journeys.”
“In terms of synergies, Pickrr had gone out for large customers while we went for long-tail SMB clients – so it was naturally complementary (to merge). Then there is technology, and downstream processes and team members are built accordingly. This deal will help us create the full-stack for direct commerce enablement,” he further added.
What the Pickrr founder has to say
Gaurav Mangla, Co-founder of Pickrr, added, “As we analysed what the acquisition of Pickrr could mean, we were certain that it would be mutually beneficial, not just for the two platforms, but the entire e-commerce logistics space.”
About Shiprocket
Delhi, India-based Shiprocket was established in 2017 by Gautam Kapoor, Saahil Goel and Vishesh Khurana. Shiprocket is an e-commerce logistics solutions company. It began its journey by building a DIY technology stack that focuses on social sellers and SMEs. Zomato, Temasek Holdings, Lightrock, Moore Strategic Ventures, 9Unicorns, InfoEdge Ventures, and March Capital back the SaaS-based shipping and fulfilment platform. The company caters to India’s direct-to-consumer (D2C) segment.
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