The 3PL startup Shiprocket has acquired an 80% stake in rival Pickrr for a $200 Mn deal and plans to completely acquire Pickrr, in the coming months giving an exit to the startup’s investors and absorbing the Pickrr team. Pickrr founders are likely to get an undisclosed stake in Shiprocket.
Launched in 2017, Shiprocket-an aggregator of 3PL companies does not compete with other third-party logistics (3PL) businesses. It has 17+ courier partners, including the likes of Delhivery, Xpressbees, DTDC, Shadowfax and Ecom Express.
Shiprocket in 2021, raised $185 Mn from Zomato and Temasek, among others. This year, the start-up has been on an acquisition spree having acquired majority stakes in tech-powered Glaucus Supply Chain, martech startup Wigzo, B2B logistics platform Rocketbox and SaaS-based Logibricks.
The start-up is also in talks to acquire Shyplite’s Indian business. If the deal goes through, Shyplite would be Shiprocket’s sixth acquisition in 2022.
With the acquisition of Pickrr, Shiprocket is adding another feather to its hat, and strengthening its position as a platform for all-sized brands, small or big, providing after-sales services including delivery and other SaaS offerings.
Shiprocket founder and CEO Saahil Goel have outlined that Pickrr’s acquisition will complement the startup’s capabilities as Pickrr has been focused on larger commercial brands while Shiprocket deals with SMBs and D2C brands.
Set up in 2015 by Ankit Kaushik, Rhitiman Majumder, and Gaurav Mangla, the Delhi NCR-based logistics player is backed by the likes of IIFL, Amicus Capital, and Ananta Capital, among others. The growth stage startup has to date raised $16 Mn across two rounds.
It largely operates in a large-scale logistics fulfillment segment. The plug-and-play SaaS solution’s key offerings include B2B distribution, sales return management, D2C marketplace fulfillment, and managed transportation.
Similar to Shiprocket, Pickrr aggregates the 3PL market for over 75K sellers, bringing 20+ logistics companies such as FedEx, Blue Dart, Ekart, and India Post. It recently also launched a tool named Fastrr to help online brands provide their customers with a checkout experience and manage abandoned carts.
With the acquisition of Pickrr, Shiprocket is moving towards market consolidation, in a bid to have a large stake within the INR 1.2 Tn 3PL market.