News In Brief Startups
News In Brief Startups

Shiprocket Acquires Pickrr for Rs 1,560 Crore

Share Us

127
Shiprocket Acquires Pickrr for Rs 1,560 Crore
17 Jun 2022
min read

Podcast

News Synopsis

Shiprocket, a logistics technology platform, announced on Wednesday that it has acquired a majority stake in Pickrr, a software-as-a-Service (SaaS) platform as an e-commerce service for the D2C brand and SME e-tailers, for about $200 million.

The company said in a statement that cash, equity and earnings transactions would enable other enablers and suppliers to serve the digital retail community and strengthen Shiprocket's position as a leading D2C-enabled operating system. 

The two platforms process 10 million shipments per month and have a significant customer base of over 75,000 merchants (Direct-to-Consumer (D2C) brands, SME e-tailers, social commerce sellers, etc.). increase.

Shiprocket and Pickrr have built a robust technology stack and outstanding operations to enable customers to benefit from the unprecedented growth of the e-commerce ecosystem.

The integrated platform enhances the ecosystem of shipping partners, warehousing providers, shopping carts, marketplaces, ERP systems, payment providers, and identity and credit information providers.

Founded in 2017, Shiprocket is backed by investors such as Temasek, Bertelsmann India Investments, PayPal, Tribe Capital, Zomato, LightRock, March Capital, Moor Strategic Ventures, and InfoEdge. Pickrr was founded in 2018 and is backed by Omidyar Network, Guild Capital, Amicus, IIFL and Ananta.

TWN In-Focus