Shiprocket raises $27 mn from Silicon Valley's Tribe Capital, March Capital
Summary
Rahul Mehta of DST Global also participated in the round along with existing investor Bertelsmann India Investments. “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.” Launched in 2017, Shiprocket said it turned profitable in FY18-19 and has an annualised revenue run rate between $50-60 million. It processes more than 4 million monthly shipments, enabling more than 100,000 sellers to sell directly to their consumers across India. “The fundraise will help Shiprocket build an exceptional post-purchase experience for the company’s 100,000 merchants,” said Pankaj Makkar, managing director, Bertelsmann India Investments. The Series C financing caps an extraordinary year for Shiprocket where it saw rapid business growth, key executive appointments, and numerous product launches.
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