- Delhi-based ecommerce logistics startup was found in 2016
- The Company turned profitable in FY 2018-19 and providing shipping services across 26,000 PIN codes in India
Shiprocket, an eCommerce logistics and shipping software solution, has raised $13 million (Rs 100 crore) in its Series C funding round. The round was led by Tribe Capital, a Silicon Valley-based investment firm, along with Innoven Capital and existing investor Bertelsmann India Investments. The company was founded by Saahil Goel, Gautam Kapoor and Vishesh Khurana in 2016.
The company will utilize these funds for hiring, international expansion and product development to accelerate overall growth.
In a media statement, Arjun Sethi, Co-founder, Tribe Capital, said,
“We invested in Shiprocket because they empower small and medium businesses that truly represent the heart and soul of any emerging economy. Today, the SME segment lacks capital finance and credit, infrastructure, technology, and marketing strategies. Shiprocket has enabled these businesses to grow at a time of emerging competition enabled by mobile internet and corporations.”
Commenting on this funding, Saahil Goel, CEO and Co-founder, Shiprocket, said,
“This additional capital will allow us to accelerate our strategic goals and product development endeavors by hiring top talent in key areas.”
Shiprocket is a data-driven logistics aggregation platform which drives efficiency in India’s eCommerce logistics by connecting online retailers with logistics providers along the supply chain to enable end-to-end solutions. The company envisions collaboratively connecting online retailers, logistics companies and consumers in a seamless platform to create delightful shipping experiences for everyone. The company’s core goal is to provide the largest number of shipping transactions in the direct to consumer e-commerce space in India.