Shiprocket, a tech-enabled logistics aggregator for D2C sellers, has announced on Thursday that it has raised $27 million (INR 200 Crore) in Series C3 funding round.
The round was co-led by Tribe Capital, a leading Silicon Valley-based venture capital firm, along with March Capital, a Santa Monica-based venture growth firm. Rahul Mehta of DST Global also participated in the round along with existing investor Bertelsmann India Investments.
Speaking about the new development, Saahil Goel, CEO and Co-founder, Shiprocket said,
“Shiprocket is the first and the largest D2C shipping enabler in India today. With the growth in D2C as a share of overall eCommerce, there is a growing opportunity to enable the full-stack of services in the post-purchase journey of the D2C consumer. We are excited with the promise the coming years hold for this market and are delighted to be partnering with the smartest capital in the industry along this journey!”
“We already power shipping for over 100,000 merchants and have recently launched Shiprocket Fulfilment for extending the existing platform including storage, pick, pack and dispatch.
Further, we want to invest in building world-class consumer experiences, as well as helping merchants grow their business with allied services in the coming years,” he added. The latest capital infusion brings Shiprocket’s total funding to $53 million.
The investment will be used by the Delhi-based startup for its product development roadmap, which includes hiring top talent across product, data, and engineering functions. The funds will also focus on the company’s new strategic initiatives, including expanding globally, the company said.