Total amount raised
$53.5 Millions
Latest funding date
February, 2021
Location
Shiprocket has successfully raised significant funding over multiple rounds, positioning itself as a key player in the e-commerce logistics sector. The platform offers a comprehensive suite of services designed to streamline shipping and enhance the overall customer experience.
Keep reading to delve into the details of Shiprocket's funding journey and discover the investors who are backing this innovative platform.
What Is Shiprocket?
Shiprocket, founded on January 26, 2017, is an e-commerce shipping platform based in New Delhi, India. The company was established by Akshay Ghulati, Gautam Kapoor, Saahil Goel, and Vishesh Khurana.
Shiprocket leverages machine learning to recommend courier services, print shipping labels, and track orders, simplifying the shipping process for direct-to-consumer retailers. The platform supports both domestic and international shipping, along with warehousing, packaging, and fulfillment services.
With a workforce of 501-1000 employees, Shiprocket continues to innovate and expand its services, aiming to streamline operations and empower e-commerce brands globally.
How Much Funding Has Shiprocket Raised?
- Series B
- Amount Raised: $4.1M
- Date: January 2018
- Lead Investors: Bertelsmann India Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and market reach.
- Series C
- Amount Raised: $13M
- Date: May 2020
- Lead Investors: Tribe Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand logistics services.
- Series C
- Amount Raised: $27M
- Date: February 2021
- Lead Investors: Tribe Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve service offerings.
- Series D
- Amount Raised: ₹3.1B
- Date: July 2021
- Lead Investors: Bertelsmann India Investments, Info Edge ventures, PayPal Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance logistics infrastructure.
- Corporate Round
- Amount Raised: $75M
- Date: November 2021
- Lead Investors: Zomato
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic partnerships and expand service offerings.
- Series E
- Amount Raised: $185M
- Date: December 2021
- Lead Investors: Lightrock, Temasek Holdings, Zomato
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance technological capabilities.
- Series E
- Amount Raised: ₹2.6B
- Date: August 2022
- Lead Investors: Lightrock, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand international operations and improve logistics network.
- Series E
- Amount Raised: ₹907M
- Date: October 2023
- Lead Investors: McKinsey & Company
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance data analytics and machine learning capabilities.
- Series E
- Amount Raised: ₹2.2B
- Date: December 2024
- Lead Investors: KdT Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop logistics and supply chain platform.
Total amount raised: $320M. Current valuation: Not publicly disclosed.
Key Investors
- KdT Ventures
- Details: KdT Ventures is a venture capital firm that typically invests in early-stage companies. They focus on innovative solutions in various sectors.
- Investment Focus Areas: Healthcare, life sciences, technology.
- Notable Investments: Not publicly disclosed.
- McKinsey & Company
- Details: McKinsey & Company is a global management consulting firm known for its expertise in strategic consulting. Occasionally, they invest in innovative companies to support their growth.
- Investment Focus Areas: Various innovative sectors, technology, healthcare.
- Notable Investments: Not publicly disclosed.
- Lightrock
- Details: Lightrock is a global private equity firm that focuses on growth-stage companies. They aim to create positive social and environmental impact through their investments.
- Investment Focus Areas: Healthcare, education, financial services.
- Notable Investments: Dr. Consulta, Andela, Not publicly disclosed.
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. They manage a diversified portfolio across various sectors and geographies.
- Investment Focus Areas: Technology, financial services, consumer goods.
- Notable Investments: Alibaba, Airbnb, Not publicly disclosed.
- Zomato
- Details: Zomato is an Indian multinational restaurant aggregator and food delivery company. They have expanded their portfolio by investing in related sectors.
- Investment Focus Areas: Food delivery, restaurant technology, logistics.
- Notable Investments: Blinkit, Not publicly disclosed.
What's Next for Shiprocket?
Shiprocket is poised to capitalize on the booming Indian e-commerce sector, with significant opportunities to expand its logistics and supply chain platform. The company’s ability to streamline shipping processes and offer competitive rates through courier aggregation positions it well to capture a larger market share.
Future fundraising appears promising, given the strong revenue growth and recent $26 million funding round led by KDT Ventures. This financial backing will likely attract further investment as Shiprocket continues to innovate and expand its services.
However, challenges such as competition from other logistics platforms and the complexities of scaling operations while maintaining service quality could pose hurdles. Adapting to regulatory changes and market dynamics will also be crucial for sustained growth.
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