Shiprocket is an e-commerce logistics and shipping software solution provider that plans to raise Rs 219 crore from KDT Ventures in its ongoing series E funding round. The fundraising saw participation from the MUFG Bank, SAI Global India, and Tribe Capital. KDT Ventures led the round with Rs 124.5 crore followed by MUFG Global with Rs 49.8 crore and Tribe Capital invested Rs 6.23 crore. SAI Capital is expected to invest Rs 38 crore followed by Huddle Collective with Rs 34.7 lakh.
The board has approved a special resolution to allot 50,461 series E3 compulsory convertible debentures at an issue price of Rs 43,394 per share to raise $26 million. The startup plans to use these fresh proceeds to scale its operations, expand its distribution network, and develop its market presence. The company is a supply chain and logistic platform for businesses to streamline delivery with courier integration, automated solutions, and real-time tracking.
The Gurugram-based company has secured around $323 million across multiple funding rounds since its inception, including $11 million raised from Afos and McKinsey during its series E funding round. The company has an estimated post-money valuation of 1.21 billion USD. The firm’s existing investor Bertelsmann Nederland B.V is the company’s largest stakeholder followed by Tribe. This investment shows investors’ trust in Shiprocket’s market potential and business model.
The firm provides an online platform to produce shipping labels and track orders through a single panel. This ongoing funding round is a part of the larger round. The logistic firm also received investment from investors including Paypal, Teamsek, Lightrock, Nirvana Ventures Advisors, and other notable investors. The company faces competition from other e-commerce and supply chain solution providers such as Unicommerce and ShipBob.
Shiprocket reported a 21 percent YoY increase in its revenue to Rs 1,316 crore in FY24. The net loss also crossed Rs 595 crore in the same duration. The company also provides a platform with features including order management, order tracking, and shipping rate calculator. This allows customers to manage and upload orders across several marketplaces. The startup aims to use this investment to develop innovative logistic solutions.
Conclusion :
Shiprocket is a Gurugram-based logistic firm that offers supply chain and logistic solutions across several marketplaces. The firm plans to raise $26 million in its ongoing series E funding round from KDT Ventures and others. MUFG Bank, Huddle Collective, SAI Global India, and Tribe Capital participated in the round. KDT Ventures led the investment with Rs 124.5 crore followed by other investors.
The company plans to use this fresh capital to scale up its operations, improve its performing capability, and expand its network. Before this round, the existing investor Bertelsmann Nederland B.V had the largest external stake followed by Tribe Capital. The board approved the allotment of 50,461 series E3 CCPs to raise Rs 219 crore at an issue price of Rs 43,394 each. Shiprocket has raised $323 million to date across various funding rounds.
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