Shiprocket has joined the unicorn club.
According to the filings, Shiprocket has issued new shares to existing investors Temasek, Bertelsmann, Moore, PayPal, and others. Until the time of publication, the company had not responded inquiry about the new funding round.
Shiprocket will be valued at $930 million after raising $185 million in a Series E round led by Zomato and Singapore’s sovereign wealth fund Temasek in 2021.
This stock paid Rs 200 crore in cash and stock for textile manufacturer Arvind’s SaaS business Omuni last month. In June, the company agreed to buy a majority stake in logistics tech startup Pickrr for an estimated $200 million in cash, stock, and earn-outs.
Shiprocket debuted in 2017.
This stock began in 2017 as a DIY technology stack focusing on social sellers and small and medium businesses (SMEs). With over 17 courier partners on board, the company can handle both domestic and international shipping deliveries. Its shipping solutions are available in over 29,000 Indian pin codes and 220 destinations worldwide.
The company previously stated that it currently works with 2.5 lakh or more sellers who generate a gross merchandise volume of more than $2.5 billion per year. The platform sends packets to over 70 million consumers each year and grows transactions 2.5-3X year on year.
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