E-commerce shipping platform Shiprocket has raised $41.3 million in its Series D1 round led by PayPal Ventures, the corporate VC arm of PayPal. With this round, Shiprocket’s total funding brings to $94.3 million.
According to the company, the fundraise will be used to accelerate product development for both existing and new products, research and development.
Founded by Saahil Goel, Gautam Kapoor and Vishesh Khurana, the startup is a data-driven logistics aggregation platform that enables cost-effective shipping for D2C retailers. It connects merchants, consumers and supply chain partners across 27,000 pin codes in India and 220 overseas countries.
Gillette, Mamaearth, Bira 91, The Beer Cafe, Aakash Institute are some of the notable brands that use Shiprocket’s service.
Shiprocket claims to have over 100,000 online sellers in India using its platform to streamline their post-checkout process, starting from logistics to warehousing to COD management.
The New Delhi-based startup had closed its $27 million Series C round in February 2021.