Shiprocket, a SaaS-based logistics business backed by Zomato, is the newest member of the nation’s unicorn club. Shiprocket raised $33.5 million in Series E2 funding, which was headed by Light Rock India and included participation from the Temasek sovereign wealth fund of Singapore, Bertelsmann, Moore Strategic Ventures, Paypal, March Capital, and Huddle.
According to Shiprocket, 2.5 million merchants’ logistical demands are satisfied. The startup claims that it ships to more than 70 million consumers annually. In order to expand its product line and solidify its position in the logistics industry, Shiprocket has been on an acquisition spree. The startup has purchased Wigzo, Rocketbox, Glaucus, Pickrr, and Omuni within the past 10 months.
According to media sources, Shiprocket is also in discussions to purchase the Indian operations of Shyplite. Shiprocket has been funding logistics startups in addition to the purchase. Among the startups it has backed are Woovly, Eat Better, BoldCare, EvenFlow, and Logibricks.