The funding will help ShipRocket expand its product suite and offer hyperlocal delivery services. Here are the top-line bullets you need to know.
Shiprocket, an e-commerce logistics startup, has raised $185M in Series E round that drew participation from 9Unicorns, Lightrock, Zomato, Moore Strategic Ventures, and Info Edge Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- India-based Shiprocket provides automated shipping solutions to direct-to-consumer retailers, SMEs, and e-commerce sellers.
- The company caters to 29K pin codes within India and 220 countries globally. With a network of over 17 courier partners, it delivers shipments to more than 66M customers annually.
- It has reportedly increased its monthly active merchant base from 60K in July 2021 to around 75K at present — most of which are D2C companies. Some of its clients are Mama Earth, M Caffeine, Nappa Dori, Bira, and Gillette.
- The company claims to have doubled its ARR over the past 6 months. Currently, its annualized revenue run-rate is around $90–100M.
- It maintains fulfillment centers in Bangalore, Delhi, Gurgaon, Kolkata, and Mumbai, and it has developed carrier integrations with companies such as Xpressbees, Ekart, DotZot, Gati, and Vulcan.
WHY DOES THE MARKET MATTER?
- The global logistics market is expected to reach a value of $13T by 2027, growing at a CAGR of 6.5%, according to Allied Market Research.
- The pandemic-induced increase in demand for fast-moving consumer goods (FMCG), medical supplies, and other consumer goods has accelerated the growth of online retail, which has driven global logistics market expansion.
- Heightened supply chain disruption amid the pandemic has led to increased investments in logistics to drive efficiencies and cut costs.
- Given Amazon’s stronghold over the online retail market, retailers are differentiating by focusing on instant commerce, niche assortment, post-purchase experience, and consolidation through mergers, acquisitions, and partnerships.