Zomato, Temasek co-lead $185m round of Indian logistics firm

Shiprocket, an India-based logistics aggregator, has signed definitive agreements for a US$185 million series E funding round led by Zomato, Temasek, and Lightrock India.

Shiprocket team/Photo credit: Shiprocket

Shiprocket provides tech-based shipping and fulfillment services to SMEs, direct-to-consumer (D2C) retailers, and social commerce sellers across categories including apparel, footwear, healthcare, and electronics, among others.

It also provides solutions to help retailers integrate their digital stores with platforms such as Zoho, Shopify, and Magento, and manage orders, workflow, and inventory.

Shiprocket plans to use the freshly raised funds to expand its core product, for research and development, hiring new talent, and improving its services suite.

It will also invest in hyperlocal delivery services to offer delivery with low turnaround times and for global expansion, starting with the Middle East, where the firm will explore inorganic expansion opportunities through M&A, among other avenues.

“With the launch of our services in the Kingdom of Saudi Arabia in November 2021, we have also taken the first step towards expanding our footprint in new geographies,” Saahil Goel, co-founder and CEO of Shiprocket said in a statement.

The company was launched by Goel, Gautam Kapoor, and Vishesh Khurana in 2017.

To date, the company has raised US$280 million in funding.

Other investors in this round include:

• InfoEdge Ventures (existing investor)
• March Capital (existing investor)
• Moore Strategic Ventures
• 9unicorns
• IndiaMart co-founder Brijesh Agrawal
• Lenskart founder Peyush Bansal