India-based e-commerce shipping courier portal Shiprocket has collected $13m in a series C round co-led by Bertelsmann India Investments, the local corporate venturing vehicle for media group Bertelsmann, LiveMint reported on Monday.
Venture capital firm Tribe Capital co-led the round, which brought Shiprocket’s total funding to $26m, LiveMint said.
Founded in 2012 as KartRocket, Shiprocket operates an online shipping portal where sellers on e-commerce marketplaces can select couriers to carry their goods and then track the progress of their delivery.
Customers combine the technology with listings on major e-commerce platforms such as Amazon, and are offered pre-negotiated delivery rates with certain courier partners.
The series C proceeds will allow Shiprocket to recruit more engineers and data scientists to drive product development and work toward international expansion. Arjun Sethi, co-founder and partner at Tribe Capital, has joined the board of directors.
Bertelsmann India Investments led a $4.1m round for Shiprocket in early 2018 backed by Digital Nirvana Fund Company, Nirvana Digital Investment and Beenext, after it had also led a $6m round in 2016 featuring the same investors in addition to 500 Startups, according to media reports.
Shiprocket had closed a $2m series A round in 2014 led by Nirvana Venture Advisors and backed by both 500 Startups and e-commerce firm Beenos, adding to an undisclosed seed sum the year before from 500 Startups, 5ideas Startup Superfuel and angel investor Jatin Aneja.