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Zomato-Backed Shiprocket Raises $33.5 Mn, Enters Unicorn Club

Since its founding in 2017, Shiprocket has tripled in size and serves more than 66 million clients annually

Shiprocket, a logistics technology platform supported by Zomato, raised $33.5 million (about Rs 270 crore) in a fundraising round co-led by Temasek and Lightrock India, Shiprocket becoming the 106th unicorn in India. With the new capital, Shiprocket was valued at about $1.2 billion. Since its founding in 2017, Shiprocket has tripled in size and serves more than 66 million clients annually.

The company has passed a special resolution to allot 59,793 preference shares in its ongoing Series E round at an issue price of Rs 43,394.13 per share to raise Rs 260 crore or $33 million. This appears to be a part of Series E2 round.

Light Rock India and MacRitchie Investments (Temasek Holding) led this round with Rs 78 crore and Rs 75 crore respectively. Other investors including Bertelsmann Nederland BV, Moore Strategic, Paypal Inc. and MCP3 SPV LLC collectively participated with Rs 107 crore in this ongoing series E round.

Shiprocket provides technology solutions to help retailers integrate their shopping websites across enablers such as Shopify, Magenta and others. According to the company, around 250K sellers use its product and services and it enables delivery of 70 million shipments each year. 


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