Shiprocket raises $33.5 mn, is now India’s 106th unicorn

NEW DELHI: Zomato-backed logistics technology platform Shiprocket on Wednesday became India’s 106th unicorn post raising $33.5 mn (about Rs 270 cr) in a funding round co-led by Temasek and Lightrock India.

Shiprocket was valued at around $1.2 billion with the fresh round of funding.

The fresh funds will help Shiprocket extend its operating system by building newer software and intelligence products along with deepening its capability on the fulfilment and same-day delivery experience, it said.

The Series E2 funding round also saw participation from existing investors, Bertelsmann India Investments, March Capital, Moore Strategic Ventures, PayPal Ventures and Huddle. “This investment will help accelerate our roadmap and will also help us bring world-class e-commerce experiences to every direct commerce retailer in India,” said Saahil Goel, CEO and Co-founder, Shiprocket. Launched in 2017, Shiprocket delivers packets to more than 66 mn consumers annually and is growing 3 times year on year.

Last month, Shiprocket acquired omnichannel commerce company Arvind Internet Limited’s technology business called ‘Omuni’ for Rs 200 cr in a stock and cash deal.

The deal will leverage both companies’ technology and resources to enable quick, efficient, hassle-free deliveries from the closest store/warehouse in a larger D2C commerce enablement segment,, Shiprocket said. In June, it acquired a majority stake in Pickrr, an ecommerce software-as-a-service platform for D2C brands and SME e-tailers for around $200 million (nearly Rs 1,560 crore)..