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Funding Alert : Shiprocket closes $185 million funding led by Zomato Ltd, Temasek Holdings and Lightrock

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Shiprocket, one of India’s leading e-commerce logistics and enablement platforms have raised a funding of $185 million (Rs.1,380 crores) in the Series-E funding round co-led by Zomato Ltd, Temasek Holdings and Lightrock India.

The freshly infused capital will be used towards core product expansion, research and development, talent acquisition and development of a certain comprehensive suite of products, the company has announced.

The funding round witnessed the presence of some new investors such as Moore Strategic Ventures, 9unicorns alongside the existing investors such as InfoEdge Ventures and March Capital. Other notable investors in this round included some of the leading domestic entrepreneurs such ad Brijesh Agrawal (IndiaMART), Peyush Bansal (Lenskart), Sanil Sachar (Huddle Ventures), Varun Alagh (Mamaearth), Sameer Mehta and Aman Gupta (Boat Electronics) and Ashish Gupta (Helion Ventures).

Saahil Goel, CEO and Co-founder, Shiprocket is elated with this new development and he mentioned, “We are excited about the vast, untapped opportunity that lies in post-purchase technology enablement in the D2C e-commerce space. Thrilled to welcome all our new partners as we gear up for our next phase of growth”. He also added that “We are on track to launch hyperlocal delivery options which will guarantee low TAT and best in class Service Level Agreements (SLAs) further cementing our position as the preferred shipping and enablement partner”.

Deepinder Goyal, CEO and Co-founder, Zomato Ltd said, “We are excited to partner with Saahil and the team at Shiprocket as they march towards creating game-changing hyperlocal e-commerce infrastructure in the country.”

The official statement also mentioned that this is the third round of funding in 2021 and adding this would raise the total capital strength of the company to USD 280 million.