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Shiprocket raises Rs 305 cr funding led by PayPal Ventures, Bertelsmann India Investments, others
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E-commerce aggregation platform Shiprocket on Thursday said it has raised $41.3 million (about Rs 305 crore) in Series D1 funding co-led by PayPal Ventures, the corporate VC arm of PayPal.
The latest infusion of capital brings Shiprocket s total funding to $94.3 million.
The New Delhi-based company said that it aims to leverage these funds to fuel product development for both existing and new products, to invest in research and development, continue market expansion and accelerate overall growth.
Direct-to-consumer (D2C) commerce forms roughly 15 percent of the overall e-commerce market in India and this is projected to grow to 30-35 percent in the next five years.
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Logistics aggregator platform Shiprocket raises Rs 305 cr
By IANS |
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Rupees.. Image Source: IANS News
New Delhi, July 8 : E-commerce aggregation platform Shiprocket on Thursday said it has raised $41.3 million (about Rs 305 crore) in Series D1 funding co-led by PayPal Ventures, the corporate VC arm of PayPal.
The latest infusion of capital brings Shiprocket s total funding to $94.3 million.
The New Delhi-based company said that it aims to leverage these funds to fuel product development for both existing and new products, to invest in research and development, continue market expansion and accelerate overall growth.
Direct-to-consumer (D2C) commerce forms roughly 15 per cent of the overall e-commerce market in India and this is projected to grow to 30-35 per cent in the next five years.