Monday, September 26, 2022
HomeInsightFunding Alert Shiprocket becomes Unicorn after raising $33.5 mn in Funding

[Funding alert] Shiprocket becomes Unicorn after raising $33.5 mn in Funding

Shiprocket becomes Unicorn after raising $33.5 mn in Funding

Shiprocket, a logistics and fulfillment startup has raised 3.5 Mn in its Series E2 funding round from Light Rock India.

Other investors including Temasek, Bertelsmann, Moore Strategic Ventures, Paypal, March Capital, and Huddle, also saw participation from in this round.

As per regulatory filings, in the bridge funding round, Shiprocket allotted a total of 59,793 Series E2 Compulsory Convertible Preference Shares (CCPS) at an issue price of INR 43,394.13 each.

Read also – [Funding alert] Rusk Media raises $9.5 mn in Series A Round

Lightrock has invested Rs 78 crore, Temasek Rs 75 crore, Bertelsmann and Moore Strategic Ventures invested Rs 38.9 crore in this company.

After this round, Shiprocket was valued at $1.2 billion and became India’s 106th unicorn.

The Gurugram-based Shiprocket was founded in 2017 by Saahil Goel, Vishesh Khurana, Gautam Kapoor, and Akshay Gulati, it is a SaaS-based logistics startup, claims to meet the logistics demands of 2.5 lakh vendors, and it dispatches over 70 million consumers annually.

The company acquired Wigzo, Rocketbox, Glaucus, Pickrr and Omuni in the last ten months.

In December 2021, Shiprocket had raised $185 million in its Series E funding round from Zomato, Temasek, Lightrock India, and others.

Read also – [Funding alert] Used car warranty startup Wisedrive raises $1 mn in seed round

About Shiprocket

Shiprocket is India’s only automated shipping solution for eCommerce. It lets user to choose from 17+ courier partners, print shipping labels, and track orders from a single panel and also process returns from an integrated dashboard.

Apart from the shipping automation, Shiprocket offers negotiated freight rates with its top-rated shipping partners like FedEx, Bluedart, Delhivery & Ecom Express. The rates start from Rs. 20/500g* and they get multiple delivery options like surface and air modes.

It can be integrated with channels like Amazon, eBay, Magento, Opencart, Shiprocket 360, and over 6 more websites and marketplaces.

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