Shiprocket to raise USD 185 million

Shiprocket to raise USD 185 million, Zomato eyes 8% stake with USD 75 million

Post By : Rachayita Sidharth
Post Date : November 11, 2021
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Gurugram based logistics start-up, Shiprocket will be acquiring investment of USD 185 million, out of which, food delivery start-up, Zomato will pool in USD 75 million for a stake of 8%.

The B2B logistics platform already has a monthly active interaction with 10,000 D2C brands. Shiprocket is looking forward to attract new investors apart from the existing ones for the fresh round of investment.

In July 2021, the American venture capital firm, PayPal Ventures along with Shiprocket’s existing investors – Berterlsmann India, Info Edge Ventures, March Capital and Tribe Capital – added USD 41.3 million to it’s capital base. Kunal Shah (Razorpay, CRED Founder) and Deepinder Goyal (Zomato CEO and co-founder) were among the individual investors in the same round.

The start-up foresees expansion of operations in the Middle East market, including Saudi Arabia, with the recently garnered capital along with inorganic growth via tech acquisitions. Last year, Shiprocket Fulfilment Centers were established to enable same-day and next-day deliveries and the company earned a revenue of USD 49.7 million in FY21.

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