Shiprocket announces $185 Mn Series E round

Logistics aggregator platform Shiprocket has raised $185 million in a Series E round co-led by Zomato, Teamasek and Lightrock India. Existing investors InfoEdge Ventures and March Capital along with Moore Strategic Ventures and 9unicorns also participated in the round. 

This is the third funding round of the year for the logistics tech firm, taking the total fund raised to $280 million. 

Last month, Zomato had signed definitive documents for investing around $75 million in Shiprocket for about 8% stake as part of the current round. This roughly valued Shiprocket at over $930 million.

Shiprocket will deploy the new capital towards core product expansion, research and development, talent acquisition, product development and new strategic initiatives.

The New Delhi-based company 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. 

According to the company, its current annualized revenue run-rate is around $90-100 million and has an active merchant base of 175,000.