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.
Source: Shiprocket
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.
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