Logistic enablement platform Shiprocket raised $32.6 million in the latest funding round from returning investors. The funding round was co-led by Singapore’s Temasek and Lightrock India.
The firm was valued at around $1.2 billion with a fresh round of funding, joining India’s exclusive club of unicorn companies. Other investors that also joined the round include Bertelsmann, Moore Strategic Ventures, March Venture Capital, Huddle Collective, and Paypal.
Publicly-listed food technology major Zomato, however, which had led the previous round of funding at Shiprocket in December 2021 did not participate in the latest funding round.
The fresh funds will help Shiprocket extend its operating system by building newer software and intelligence products along with deepening its capability in the fulfillment and same-day delivery experience.
Saahil Goel, CEO and Co-founder of Shiprocket said “This investment will help accelerate our roadmap and will also help us bring world-class e-commerce experiences to every direct commerce retailer in India.”
Shiprocket was founded in 2017 by Saahil Goel, Gautam Kapoor, and Vinesh Khurana, the company then elevated its Chief Business Officer Akshay Ghulati to the post of Co-founder in 2020. The company currently delivers packets to more than 66 million consumers annually and is growing 3 times year on year.
Since its latest funding round, Shiprocket has made five acquisitions, including cargo shipping business Rocketbox, supply chain management solution Glaucus, marketing automation platform Wigzo, logistics aggregator Pickrr, and Arvin Internet’s retail enablement business, Omuni.