Shiprocket - Company Profile

Shiprocket is one of India's leading logistics and fulfillment platforms. The company utilizes advanced tech to enable seamless operations between sellers and buyers. It was launched in 2017 and is headquartered in New Delhi. The Shiprocket platform is owned and operated by BigFoot Retail Solution Pvt. Ltd.

Shiprocket is truly unique as a platform, as it provides a single-window dashboard to e-tailers to manage the process of shipping and tracking. The company has collaborations with multiple courier companies, which makes it easier for e-tailers to manage their orders and day-to-day operations. Consumers also benefit, as they can get real-time information about their order delivery.

History

The idea for Shiprocket came to the founders when they noticed the limitations being faced by MSMEs in the country. While large e-commerce companies can easily ship to all locations across the country, doing the same was a challenge for MSMEs. Such entities just didn't have the resources to boost their online presence.

As a solution, Shiprocket was launched to provide a hassle-free logistics support to MSMEs. With tech-enabled Shiprocket platform, small and medium enterprises are easily able to sell their products online. They can now ship to most PIN codes across the country, irrespective of their location.

Shiprocket also helps MSMEs to reduce cost by allowing them to choose the most affordable delivery option available at that point of time. Over the years, Shiprocket has expanded its offerings to include several new services such as Shiprocket Packaging, Shiprocket Capital, Shiprocket Engage, Shiprocket X and Rocketfuel.

Funding

Shiprocket has received investments worth $386.8 million via 10 rounds of funding. Some of the key investors include Lightrock, Temasek Holdings, Zomato, Bertelsmann India Investments, Info Edge Ventures, PayPal Ventures, March Capital, Tribe Capital, Nirvana Venture Advisors and 5ideas. In the funding round in August 2022, Shiprocket received Rs 259 crore ($32 million) from Singapore's Temasek and Lightrock India. With this investment, Shiprocket valuation reached around $1.3 billion. Thereby, achieving the coveted tag of Unicorn.

Acquisitions

A significant percentage of the investments received by Shiprocket are being used to acquire other companies. It will help Shiprocket to strengthen its presence and expand its service offerings. Acquisitions done by Shiprocket in 2022 include Wigzo Technologies, Rocketbox, Glaucus Supply Chain Solutions, Pickrr Technologies and Omuni (Arvind Internet).

Competitors

Shiprocket competes with other logistics and fulfillment platforms such as Shyplite, Delhivery, Vamaship, ClickPost, QuickShift and Shadowfax.

About the founders

Shiprocket was founded by Saahil Goel, Gautam Kapoor, Vishesh Khurana and Akshay Ghulati. Saahil currently works as the CEO of Shiprocket. Co-founder Gautam looks after Shiprocket Fulfillment whereas Vishesh is Head of Growth. Co-founder Akshay currently serves as Head of Strategy and Global Expansion.