Shiprocket becomes India’s 106th Unicorn, Logistics Technology Platform raises USD 33 Million in Latest Round

Shiprocket becomes India’s 106th Unicorn: Logistics Technology Platform Shiprocket has become the latest start-up to join the unicorn club. The company raised USD 33 Million or Rs 260 crore to be crowed as the 106th Unicorn of India.

Shiprocket becomes India’s 106th Unicorn
Shiprocket becomes India’s 106th Unicorn

Shiprocket becomes India’s 106th Unicorn: Logistics Technology Platform Shiprocket has become the latest start-up to join the unicorn club. The company raised USD 33 Million or Rs 260 crore from its existing investors Temasek Holdings and Lightrock India to be crowned as the 106th Unicorn of India. Zomato-backed Shiprocket is the 20th company to cross the 1 Billion Valuation mark in 2022 and joins the league of CredAvenue, Xpressbees, LEAD and PhysicsWallah among others. Post the latest round of funding, the logistics aggregator is valued at USD 1.2 Billion according to the data submitted with the Ministry of Corporate Affairs.

About Shiprocket - India’s 106th Unicorn

Shiprocket is a Logistics Technology Platform which is backed by several large investors including Zomato, Temasek Holdings and Lightrock India. The company was founded in 2017 by Saahil Goel, Vishesh Khurana, Gautam Kapoor, and Akshay Gulati, as a technology-backed logistics service provider to small and medium-sized businesses (SMEs). The company also operates in the post-purchase space with direct-to-consumer (D2C) brands and social commerce sellers segment and services about 29,000 pin codes in India and 220 across the globe. Recently, the Logistics aggregator has acquired multiple firms within its fold including Wigzo, Rocketbox, Glaucus, Pickrr.

Name

Sector

Acquisition Month

Wigzo

Enterprisetech

Jan-22

Rocketbox

Logistics

Jan-22

GLAUCUS

Logistics

Feb-22

Pickrr

Logistics

Jun-22

Omuni

Enterprisetech

Jul-22

India Home to 100+ Unicorns

Unicorn is a term that is associated with startup firms that are valued above USD 1 Billion mark. Recently, India crossed the mark of 100 Unicorns and Logistics firm Shiprocket is the latest to join this club at 106th Position. In 2021, India added 44 companies to the Unicorn club, while in the first 8 months of 2022, the country has seen 20 companies get this coveted tag. Backed by a robust start-up culture, India has been leading the world in the startup ecosystems. Currently, India ranks 3rd globally in terms of the number of unicorns being born out of a country.

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