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.