Shiprocket raised $33.5 million in Series E2 led by Light Rock India and becomes India’s 106th unicorn

August 17, 2022

, By Editorial Team

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Zomato-backed SaaS-based logistics startup Shiprocket has become the latest entrant to the country’s unicorn club. Shiprocket raised $33.5 million in Series E2 led by Light Rock India where Singapore’s sovereign fund Temasek, Bertelsmann, Moore Strategic Ventures, Paypal, March Capital, and Huddle also participated.

Shiprocket claims to meet the logistics needs of 2.5 million sellers. According to the startup, it ships to more than 70 million customers each year. Shiprocket has been on an acquisition binge in order to broaden its product offering and consolidate its position in the logistics sector. In the last ten months, the startup has acquired Wigzo, Rocketbox, Glaucus, Pickrr, and Omuni. According to media reports, Shiprocket is also in talks to acquire Shyplite’s Indian business. Aside from the acquisition, Shiprocket has been providing funding to logistics startups. It has invested in a variety of startups, including Woovly, Eat Better, BoldCare, EvenFlow, and Logibricks.

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Shiprocket raised $33.5 million in Series E2 led by Light Rock India and becomes India’s 106th unicorn

August 17, 2022

, By Editorial Team

Zomato-backed SaaS-based logistics startup Shiprocket has become the latest entrant to the country’s unicorn club. Shiprocket raised $33.5 million in Series E2 led by Light Rock India where Singapore’s sovereign fund Temasek, Bertelsmann, Moore Strategic Ventures, Paypal, March Capital, and Huddle also participated.

Shiprocket claims to meet the logistics needs of 2.5 million sellers. According to the startup, it ships to more than 70 million customers each year. Shiprocket has been on an acquisition binge in order to broaden its product offering and consolidate its position in the logistics sector. In the last ten months, the startup has acquired Wigzo, Rocketbox, Glaucus, Pickrr, and Omuni. According to media reports, Shiprocket is also in talks to acquire Shyplite’s Indian business. Aside from the acquisition, Shiprocket has been providing funding to logistics startups. It has invested in a variety of startups, including Woovly, Eat Better, BoldCare, EvenFlow, and Logibricks.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

Yes Bank invests in Venture Catalysts Group Funds to support future technology businesses

Next News

RBI issued a discussion paper on charges for UPI and other payment systems

StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.

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