BENGALURU: E-commerce shipping and enablement firm ShipRocket on Friday said it will acquire 75% stake in customer data platform Vigzo Tech. The company did not disclose the value of the investment, but said it would expand its product line-up to online retailers joining the platform through this partnership.
ShipRocket is backed by Zomato Limited, Temasek Holdings, LightRock India, 9Unicorn, InfoEdge Ventures, Moore Strategic Ventures and March Capital. Prominent individual investors include Brijesh Agarwal (Indiamart), Piyush Bansal (Lenskart), Sanil Sachar (Huddle Ventures), Varun Alagh (Mamaearth), Sameer Mehta and Aman Gupta (Boat Electronics) and Ashish Gupta (Hellion Ventures).
New Delhi-based Shiprocket aims to help direct-to-consumer (D2C) brands improve their technology stack to drive marketing conversions.
Powered by Bigfoot Retail Solutions, Shiprocket was founded in 2017 by Sahil Goyal, Gautam Kapoor and Vishesh Khurana. It provides shipping and fulfillment solutions to small businesses, retailers and social commerce vendors across 29,000 pin codes in India and 220 countries. Startup also offers a cash-on-delivery gateway. Shiprocket claims to deliver shipments to over 66 million consumers annually and is growing 3x year-on-year.
Started by Umair Mohd, Himanshu Kaushik and Mohd Atyab, Vigzo Tech serves over 400 e-commerce and D2C companies, including Leaf Studios, Power Gummies, Stitch Clothing, House of Rare, Morphy Richards, Forest Essentials, Ethos Watches and Basics Life are included.
“India’s D2C space is showing massive growth. There are over 10,000 D2C brands in India, with the sector projected to reach $100 billion by 2025. For D2C brands, the leverage of data can play a vital role in gaining an edge over contemporaries. Suffice to say, modern consumers are drawn to brands that take a carefully tailored approach to their shopping experience. This is where Vigzo D2C is proving to be a game-changer in helping brands.”
“With its built-in customer data platform Rails and other applications such as business intelligence, consumer behavior, data analysis and automated support, Vigzo packs a state-of-the-art platform that enables every D2C brand to create tailored and personalized experiences for target customers Is. It helps brands analyze data in real time with just a few clicks through big data and AI or ML algorithms.”
Shiprocket has also partnered with Mumbai Angels Network, a platform for early stage investments, as the latest partner for its co-investment programme. In December, Shiprocket picked up 1,380 crore from Zomato as part of its Series E funding round. In July 2021, it had mobilized 305 crore in a Series D round co-led by PayPal Ventures, Info Edge Ventures and Bertelsmann. In February 2021, it had raised 200 crore in an expanded Series C round co-led by Tribe Capital and new investor March Capital.
Shiprocket’s net sales more than doubled 161 crore in FY20 from 58.8 crore in FY19 as per VCCEDge
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