Shiprocket raises $27 million in new funding round
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Last Updated: Feb 18, 2021, 08:08 AM IST
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Synopsis
Shiprocket, an e-commerce logistics platform, says it will use the funding for development of its product roadmap, including hiring talent, and global expansion.
ETtech
Bengaluru: New Delhi-based logistics aggregator Shiprocket has raised $27 million in a mix of primary and secondary capital as part of its new funding round led by US-based venture capitalists Tribe Capital and March Capital. DST Global’s Rahul Mehta and Bertelsmann India Investments were the other participants in the funding round.
The round gives an exit to some early investors in the company with returns ranging between six-seven times, the company said. The fundraising also brings the total capital raised by the eight-year-old company to $53 million.
Read more about Logistics firm Shiprocket raises Rs 200 crore in series C funding round on Business Standard. Investors included Silicon Valley based venture capital firm Tribe Capital
Shiprocket, an e-commerce shipping platform that enables fast and cost-effective shipping for D2C (direct to consumer) retailers has raised $27 million in Series C3 funding. The round was co-led by Tribe Capital, a leading Silicon Valley-based venture capital firm, along with March Capital, a Santa Monica-based venture growth firm. Rahul Mehta of DST Global also participated in the round along with existing investor Bertelsmann India Investments. The latest infusion of capital brings Delhi-based Shiprocket’s total funding to $53 million. The investment will fuel Shiprocket’s aggressive product development roadmap, which includes hiring top talent across product, data, and engineering functions. The funds will also focus on the company’s new strategic initiatives, including expanding globally.
India: Logitech startup Shiprocket raises $27m from Tribe, March Capital, others
A man offering his services as a road guide stands outside of a logistics park in Chengdu, China, on Tuesday, April 11, 2017. Photographer: Qilai Shen/Bloomberg
February 18, 2021
New Delhi-based logistics aggregator Shiprocket on Thursday announced that it has raised $27 million in Series C3 funding round.
The financing was co-led by Silicon Valley-based venture capital firm Tribe Capital, along with March Capital, a Santa Monica-based venture growth firm, the startup said in a statement. Other investors in the round included Rahul Mehta of DST Global and existing investor Bertelsmann India Investments, the company said in a statement.
Shiprocket raised ₹200 crore funding
February 18, 2021
Investment to fuel company’s product development roadmap Shiprocket, a New Delhi-based e-commerce shipping platform, has raised ₹200 crore ($27 million) in Series C3 funding, co-led by Tribe Capital and March Capital. This infusion takes the company’s total funding to $53 million.
The investment will be used to fuel Shiprocket’s product development roadmap, including hiring across product, data, and engineering functions. The funds will also focus on the company’s new strategic initiatives, including expanding globally, it said in a statement.
Rahul Mehta of DST Global also participated in the round along with existing investor Bertelsmann India Investments. Tribe Capital is a Silicon Valley-based venture capital firm, and March Capital is a Santa Monica-based venture growth firm.