Exclusive: Logistics SaaS unicorn Shiprocket to raise $26 Mn

Logistics and supply chain enabler Shiprocket is raising Rs 219 crore (around $26 million) in an extension of its ongoing Series E round. The round is led by KDT Ventures, with participation from MUFG Bank, Tribe Capital, and SAI Global.

The board at Shiprocket has passed a special resolution to issue 50,461 Series E3 CCPS at an issue price of Rs 43,394 each to raise Rs 219 crore, its regulatory filing accessed from the Registrar of Companies shows.

KDT Ventures will lead the round with an investment of Rs 124.5 crore, while MUFG Bank and Tribe Capital will contribute Rs 49.8 crore and Rs 6.23 crore, respectively. Huddle Collective and SAI Global India will participate with Rs 34.7 lakh and Rs 38 crore, respectively.

The funding seems to be a part of a larger round with more capital to follow. According to Fintrackr’s estimates, the company has been valued at around Rs 10,195 crore or $1.21 billion post-allotment.

Founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket is a logistics and supply chain platform enabling businesses to streamline shipping with courier integration, real-time tracking, and automated solutions.

Shiprocket has raised over $320 million to date, including $11 million in its latest round led by McKinsey. Entrackr was the first to report this development. According to the startup data intelligence platform TheKredible, Bertelsmann Nederland B.V is the largest external stakeholder followed by Tribe. Zomato, Temasek, LightRock, and Paypal are other notable investors in Shiprocket.

During the fiscal year ending March 2024, the company recorded a 21% year-on-year increase in revenue, reaching Rs 1,316 crore, while its losses stood at Rs 595 crore for the same period. It competes with Unicommerce which recently acquired Shipway, along with other players such as Shipyard among others.