Logistics technology platform Shiprocket on Friday, December 10 said it has signed a definitive agreement for a $185 million (Rs 1,380 crore) Series E funding round, co-led by Zomato, Temasek and Lightrock India. This marks Shiprocket's third round of funding in 2021, bringing the total funds raised to $280 million. Shiprocket focuses on providing Amazon Prime-like shipping experiences for sellers and consumers across India in direct-to-consumer e-commerce.
"We are excited about the vast, untapped opportunity that lies in post-purchase technology enablement in the D2C e-commerce space. This fundraise is a validation of the hard work put in by the entire Shiprocket team over the last 4 years," said Saahil Goel, CEO and Co-founder, Shiprocket.
New investors, Moore Strategic Ventures and 9unicorns, are also participating in this round, along with existing investors, InfoEdge Ventures and March Capital. Launched in 2017, Shiprocket claims to be the fastest company to become profitable in 24 months while also doubling its ARR (annual run rate) over the last 6 months.
Shiprocket said it will deploy fresh funds towards aggressive core product expansion, research and development, talent acquisition, and development of a comprehensive suite of products for retailers.
"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," said Goel.
Shiprocket also provides a technology stack to help retailers integrate their shopping websites on Shopify, Magento, WooCommerce, Zoho and others for workflow, inventory and order management.
"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," said Deepinder Goyal, CEO and Co-founder, Zomato.