in

Shiprocket inks an agreement for USD 185 million in Series E funding

shiprocket

Shiprocket, a logistics start-up, has signed definitive agreements to raise USD 185 million (INR 1,380 crore) in a Series E fundraising round led by Zomato Ltd, Temasek, and Lightrock India.

On this transaction, Avendus Capital served as Shiprocket’s only financial advisor.

The newly raised funds will aid the company in furthering its aim to democratise e-commerce fulfilment for the rapidly expanding universe of direct-to-consumer (D2C) shops. Shiprocket plans to use the funds to expand its core product line, conduct research and development, hire new employees, and develop a comprehensive suite of products that will enable retailers to provide a seamless, high-quality post-order customer experience comparable to that of large e-commerce platforms.

Commenting on the latest funding Saahil Goel, CEO and Co-founder, Shiprocket said “We are excited about the vast, untapped opportunity that lies in post-purchase technology enablement in the D2C e-commerce space. Thrilled to welcome all our new partners as we gear up for our next phase of growth. This fundraise is a validation of the hard work put in by the entire Shiprocket team over the last 4 years.”

What do you think?

Comments

Leave a Reply

Your email address will not be published.

Loading…

0

Microsoft Leads $27M Funding Round for Crypto Startup Palm NFT Studio

Paytm Payments Bank Gets RBI’s Approval For Scheduled Bank Status