Shiprocket closing $185 mn in Series E co-led by Zomato, Temasek, Lightrock
1 min read . Updated: 10 Dec 2021, 09:00 AM IST
PremiumThe funds will be used for offering hyperlocal deliveries with low turnaround times, Shiprocket said
NEW DELHI : Shiprocket, an ecommerce shipping and enablement platform, has signed definitive agreements to raise $185 million ( ₹1380 crore) as part of its Series E funding round co-led led by Zomato Ltd, Temasek Holdings and Lightrock India.
New investors Moore Strategic Ventures and 9unicorns also participated in the round, Shiprocket said. Existing investors InfoEdge Ventures and March Capital contributed to this investment round.
Prominent individual investors including Brijesh Agrawal (IndiaMART), Peyush Bansal (Lenskart), Sanil Sachar (Huddle Ventures), Varun Alagh (Mamaearth), Sameer Mehta and Aman Gupta (Boat Electronics) and Ashish Gupta (Helion Ventures) also pooled in capital as part of this funding round.
Shiprocket, operated by BigFoot Retail Solutions Pvt. Ltd, plans to use the fresh capital for developing a comprehensive suite of products, research and development, and hiring. The funds will also be deployed for global expansion and offering hyperlocal deliveries with low turnaround times, the firm said.
Saahil Goel, CEO and co-founder, Shiprocket, said the company is on track to launch its hyperlocal delivery options which will guarantee low turnaround times. He added the company entered the international market last month by launching its services in Saudi Arabia. The startup also plans to “actively" explore mergers and acquisitions for growth.
Launched in 2017 by Gautam Kapoor, Saahil Goel and Vishesh Khurana, the startup’s platform powers shipping and fulfilment for small and medium enterprises, direct-to-consumer retailers, and social commerce sellers.
