Shiprocket raises $33.5 million, becomes India’s 106th unicorn

New Delhi: Zomato-backed logistics technology platform Shiprocket on Wednesday became India’s 106th unicorn after raising $33.5 million (about Rs 270 crore) in a funding round co-led by Temasek and LightRock India. With the new round of funding, Shiprocket was valued at approximately $1.2 billion. The fresh funds will help Shiprocket expand its operating system to build new software and intelligence products, as well as deepen its capability in the fulfillment and same-day delivery experience, a statement said.

The Series E2 funding round also saw participation from existing investors, Bertelsmann India Investments, March Capital, Moore Strategic Ventures, PayPal Ventures and Huddle. “To every direct commerce retailer in India,” said Sahil Goel, CEO and Co-Founder, ShipRocket.

Launched in 2017, Shiprocket delivers packets to over 66 million consumers annually and is growing 3x year on year. Last month, Shiprocket acquired omnichannel commerce company Arvind Internet Ltd’s technology business ‘Omuni’ for Rs 200 crore in a stock and cash deal.

The deal will leverage both the technology and resources of the companies to enable quick, efficient, hassle-free delivery from the nearest store/warehouse in the large D2C commerce enabled segment, Shiprocket said in a statement. In June, Shiprocket acquired a majority stake in Picker, an e-commerce software-as-a-service (SaaS) platform for D2C brands and SME e-tailers, for about $200 million (about Rs 1,560 crore).