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Logistics startup Shiprocket enters unicorn club with Rs 259 cr fundraise Shiprocket

Logistics startup Shiprocket enters unicorn club with Rs 259 cr fundraise

India Blooms News Service | @indiablooms | 18 Aug 2022, 05:47 pm

Mumbai: Zomato-backed logistics startup Shiprocket has raised Rs 259 crore in an extended Series E round at a post-money valuation of Rs 9,815 crore (around $1.2 billion), Moneycontrol reported citing company filings with the Ministry of Corporate Affairs (MCA).

The filing showed that Shiprocket issued fresh shares to existing investors Temasek, Bertelsmann, Moore, PayPal, and others, said the report.

In 2021, Shiprocket raised $185 million in a Series E round led by Zomato and Singapore-based Temasek at a valuation of $930 million.

Shiprocket has made a number of acquisitions, including textile manufacturer Arvind's SaaS (Software as a Service) business Omuni, and a majority stake in logistics tech startup Pickrr.

Shiprocket was established in 2017 as a DIY technology stack with a focus on facilitating social sellers and small and medium enterprises (SMEs). It offers automated shipping solutions across more than 29,000 pin codes in India and 220 destinations worldwide.

It has more than 17 courier partners on board and works with 2.5 lakh plus sellers.