Logistics SaaS unicorn Shiprocket has raised ₹219 crore (approximately $26 million) in an extension of its Series E funding round. The funding, led by KDT Ventures and supported by MUFG Bank, Tribe Capital, SAI Global, and Huddle Collective, values the company at ₹10,195 crore ($1.21 billion).
Funding Breakdown
- KDT Ventures: ₹124.5 crore
- MUFG Bank: ₹49.8 crore
- Tribe Capital: ₹6.23 crore
- SAI Global India: ₹38 crore
- Huddle Collective: ₹34.7 lakh
This fresh infusion of capital underscores Shiprocket's prominence in the logistics technology space and its appeal to investors, even amid a cautious funding environment.
Company Background
Founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket provides logistics and supply chain solutions to over 150,000 businesses. Its platform integrates courier services, offers real-time shipment tracking, and automates shipping operations, enabling businesses to manage e-commerce logistics efficiently. The company facilitates approximately 5% of India's e-commerce shipments.
Financial Snapshot
In FY 2024, Shiprocket achieved a 21% year-on-year increase in revenue, reaching ₹1,316 crore. However, the company also reported a loss of ₹595 crore, reflecting a need for cost optimization as it scales.
Competitive Landscape
Shiprocket operates in a competitive sector, facing challenges from players like Unicommerce, which recently strengthened its position by acquiring Shipway. Despite competition, Shiprocket’s latest funding signals strong confidence in its growth trajectory.
Our Opinion on the News
Shiprocket's successful fundraise amid a global funding slowdown highlights its solid market positioning and potential for scaling. The investment will likely be directed toward technological innovations and expanding market reach. However, with escalating losses, achieving profitability will be a crucial benchmark for sustaining investor confidence and long-term success.
Source: Entrackr