Zomato-Backed Shiprocket Becomes India’s 21st Unicorn Of 2022

Zomato-backed logistics technology platform Shiprocket has become India’s 21st unicorn of 2022. Technically, it’s the 106th Indian Unicorn company.

According to business papers with the Ministry of Corporate Affairs, the Zomato-backed logistics startup Shiprocket has received $259 crore in an expanded Series E round at a post-money valuation of $9,815 crore (about $1.2 billion) (MCA).

Shiprocket was established in 2017 and now serves more than 6.6 Crore customers annually while tripling in size year over year. 

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According to the website of Shiprocket, the company delivers more than 2 lakh orders per day, spurred along by strong direct-to-consumer (D2C) market demand and a number of e-commerce companies attempting to enhance their supply chains to fulfill the surging demand in non-metro locations.

The increased cash, according to an announcement from Shiprocket, will allow it to expand the capability of its operating system and further strengthen its fulfillment and the same-day delivery capabilities.

In an extended Series E round, Shiprocket has offered 59,793 compulsory convertible preference shares (CCPS) at a premium. current investors Temasek and Bertelsmann

New shares were issued to Nederland, Moore, Huddle Collective, PayPal, and Lightrock.

Saahil Goel, CEO and Co-Founder of Shiprocket, stated that this investment “This investment will help accelerate our roadmap and will also help us bring world-class e-commerce experiences to every direct commerce retailer in India.”

Earlier this month, Shiprocket paid Rs 200 crore in stock and cash to acquire Omuni, a technology firm owned by Arvind Internet Limited.

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According to a statement from Shiprocket, the agreement would make use of the technology and resources of both firms to enable speedy, effective, hassle-free deliveries from the nearest store or warehouse in a bigger D2C commerce enabling segment.

Additionally, Shiprocket has bought a majority share in Picrr. Pickrr indicated that after purchasing Omuni, Pickrr, Wigzo, Glaucus logistics, Rocketbox, and Rocket, Shiprocket is also considering the possibility of acquiring two to three additional businesses in the future.