AAA Shiprocket bulks up with $27m

Shiprocket bulks up with $27m

Shiprocket, an India-based shopping logistics aggregator, has raised $27m in a mix of primary and secondary series D round capital from a consortium including Bertelsmann India Investments, the local corporate venturing unit for media group Bertelsmann.

Tribe Capital, March Capital and Rahul Mehta, a partner at DST Global, were the other investors in the round, which gave an exit to some shareholders with returns ranging between six-seven times, the company said.

Founded in 2012 as KartRocket, Shiprocket provides shipping software for online merchants. It works with brands such as Koovs, Bausch and Lomb, Boat, Mamaearth and XYXX

The company had previously raised $26m in total, including $13m in a May 2020 series C round co-led by Bertelsmann India Investments and Tribe Capital. Its earlier backers include Nirvana Venture Partners, Beenext and 500 Startups

Rajan Mehra, partner at March Capital, said: “Shiprocket has simplified post-purchase experience for thousands of sellers and millions of buyers, and we are excited by their plans for the future of e-commerce.”

By James Mawson

James Mawson is founder and chief executive of Global Venturing.