This Zomato-backed startup just delivered a Unicorn valuation

Zomato-backed logistics technology platform Shiprocket has become the latest entrant to the country’s unicorn club after raising $32 billion in a funding round which valued the company at over $1.2 billion. Shiprocket joins peers Delhivery, Xpressbees, and BlackBuck in the unicorn clique.

The fresh funding round led was by Light Rock India and as per the startup’s regulatory filing, Singapore’s sovereign fund Temasek, Bertelsmann, Moore Strategic Ventures, Paypal, March Capital, and Huddle also participated.

The fresh funding comes at a time when the company has been on an acquisition spree. The startup has acquired five firms over the last one year.

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Launched in 2017 by Gautam Kapoor, Saahil Goel, and Vishesh Khurana, Shiprocket delivers packets to more than 2 lakh orders daily, helped along by robust demand in the direct-to-consumer (D2C) market and a number of e-commerce businesses trying to improve their supply chains to meet the exploding demand in non-metro cities.