Shiprocket, an ecommerce logistics firm backed by Zomato, has become a public company, with shareholders approving the transition through a special resolution.

This change is a necessary step for its IPO, which aims to raise between 2,000 crore rupees (US$231.35 million) and 2,500 crore rupees (US$ 289.19 million) in the next fiscal year.

Founded in 2012, Shiprocket offers shipping services for direct-to-consumer brands and online sellers.

It also offers services in cross-border shipping, checkout, and fulfillment, reaching over 24,000 pin codes in India and 220 international locations.

In December 2024, Shiprocket raised US$26 million, maintaining its US$1.2 billion valuation.

For FY 2024, the company reported 1,316 crore rupees (US$152.23 million) in revenue, up 21% YoY, but its net loss widened to 595 crore rupees (US$68.83 million).

Recent Shiprocket developments