Shiprocket Raises $32 Million at $1.3 Billion Valuation

Shiprocket is a logistics aggregator that provides eCommerce with automated shipping solutions. It is an automated shipping platform for sellers that empowers them to schedule pickups, import orders, manage returns, and ship to over 29 000 pin codes in India. Moreover, Shiprocket offers its clients insurance cover for lost or damaged goods.

New round investments came from Temasek and Lightrock India. Among other investors were Bertelsmann India, March Capital Partners, Moore Strategic Ventures, Huddle Collective, and Paypal. After this funding, Shiprocket enters the unicorn club and becomes the latest unicorn this year.

Shiprocket, New Delhi, India, was founded by Vishesh Khurana, Gautam Kapoor, Saahil Goel, and Akshay Ghulati in 2017. The main startup idea is to let any online selling business choose from more than 17 courier services the one that fits the business’s needs best. Among these services are FedEx, Delhivery, Bluedart, DHL, etc. To help its clients to choose a courier partner, Shiprocket uses a data engine based on machine learning, CORE. Besides, Shiprocket offers API integration for sellers to map orders directly from their website and process them through one single account. Shiprocket also participates in the government’s Open Network for Digital Commerce, enabling inter-city goods transportation.

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