E-commerce shipping enablement platform, Shiprocket, has raised $33.5 million (INR 270 crore) to become India’s 106th unicorn. The Series E2 funding round was co-led by Temasek and Lightrock India along with participation from existing investors, PayPal Ventures & Huddle, March Capital, Bertelsmann India Investments, and Moore Strategic Ventures.
The company has raised this round of funds at a valuation of $1.23 billion. In December, it was valued at around $930 million when a company raised $185 million in a Series E round co-led by Zomato, Temasek and Lightrock India.
Social commerce retailers, SME e-tailers, and small business owners with a full-stack logistics and fulfilment platform. This also includes same-day and next-day delivery, fast delivery, quick check-out, easy returns, and cross-border shipping, among other features and services.
This investment will help Shiprocket extend its operating system further by developing newer software and intelligence solutions as well as deepening its capabilities in the fulfilment and same-day delivery industry, which will enable retailers to provide a seamless, high-quality, post-order customer experience consistent with that of large e-commerce platforms.
Bisher, there have been 106 unicorns in the Indian startup community. Among these, 43 startups achieved the feat last year, while 21 startups have so far managed to reach the $1 billion valuation mark in 2022, according to the survey. At the current pace, it seems that India will not see as many unicorns this year as it did in 2021, as it did in 2021.
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Shiprocket CEO and co-founder Saahil Goel said during the fundraising, “Shiprocket is on its quest to be India’s de-facto customer experience platform for all direct commerce. We have consistently built the knowledge on the three main rails: supply chain, production, and deep intelligence. This investment will accelerate our plan and will also enable us to offer world-class e-commerce experiences to every direct commerce retailer in India.