New Delhi, India-based logistics tech platform Shiprocket acquired Omuni. The acquisition took place on July 19, 2022. Omuni is an omnichannel software-as-a-service (SaaS) platform of textile manufacturer Arvind Ltd. The acquisition cost approximately USD 200 million (INR 200 crore). The deal is a mixture of cash and stock. The latest purchase marks the fifth acquisition by the logistics company.
Purpose of the acquisition by Shiprocket
With the recent acquisition, Shiprocket can now facilitate faster deliveries of shipments to consumers from the nearest store or warehouse. Meanwhile, as a part of the deal, Arvind Ltd is expected to receive more than a 2% stake in Shiprocket.
Besides, the Shiprocket-Omuni deal enables customer experience by delivering a more robust and seamless post-purchase.
Further, the acquisition results in leveraging cutting-edge technology to build data-driven solutions and integrated product offerings. Henceforth, the companies intend to focus on better inventory utilisation, faster-localised fulfilment, optimise operational costs, and delivery of multichannel services.
Shiprocket, a month earlier, acquired Pickrr for USD 200 million. Meanwhile, the logistics company previously purchased Glaucus, Rocketbox and Wigzo. In 2021, the company raised USD 185 million in a Series E round. Zomato and Singapore’s sovereign wealth fund Temasek co-led the funding back then.
What the founder of Shiprocket has to say
Saahil Goel, co-founder and CEO of Shiprocket, said, “Omuni helps us tap into an offline retail merchant network and merges with the quick commerce and logistics which will enable us to conduct quick deliveries from the retail store. Also, Omuni customers can leverage our marketing stack. They can use our warehouses to improve their store inventory and transportation to move bulk inventory. Omuni’s SaaS products will allow us to unify inventory, order, catalogue, content, pricing, and data across physical and digital storefronts for the best possible e-commerce experience for customers.”
“We are not into listing on marketplaces kind of a thing, but given that we have some many D2C brands which can sell overseas, we will use our network of partners to help them. It can be startups around return, loyalty, customer service, trust, and fraud. All of these things which are enabling more parts of the post-purchase are all of interest to us,” he further added.
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 focusing 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.
About Arvind Ltd
In 2018, Arvind Ltd separated its branded textile and engineering business into separate companies from the parent company to focus on the core textiles business. The apparent business was rebranded as Arvind Fashions. It boasts brands such as Calvin Klein, Sephora, Arrow and Flying Machine.
Arvind Internet Pvt. Ltd operates Omuni. Its SaaS products enable brands to unify inventory, order, catalogue, content, pricing, logistics and data management across physical and digital storefronts. This, in turn, allows to deliver online/offline commerce journeys between stores, warehouses and digital channels. The company came into existence in 2014.
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