Shiprocket is India’s Most Valuable Gazelle, Says Report

Shiprocket, a logistics startup powered by technology, has been named India's most valuable gazelle. According to Hurun's ASK Private Wealth Hurun India Future Unicorn Index 2022 report, it has the potential to become a unicorn within the next two years. According to the report, a gazelle is a startup founded after 2000 that has the potential to become a unicorn in two years.

A gazelle exhibits rapid growth, with revenues increasing by at least 20% per year for at least four years. Its base revenue must be at least one million dollars.

In 2020, the Delhi-based startup faced its greatest challenge when the world went into lockdown due to Covid-19. According to the Hurun report, the company's shipments dropped by a whopping 95 percent in just a few days. Despite the losses, the startup persevered and even managed to secure funding during the pandemic.

So far, it has raised $355 million in funding. According to the Economic Times, it raised $185 million (1,380 crore) in a series E round of funding led by Zomato, Singapore's sovereign wealth fund Temasek, and Lightrock India.