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News on Medial
Zomato-backed unicorn Shiprocket dives into fintech arena
The Arc Web
·
1y ago
Medial
Shiprocket, a software platform catering to small online sellers, is expanding its services and discussing a new round of funding. These new services include international shipping and fintech-based solutions like faster checkout, working-capital loans, and insurance. Shiprocket, valued at $1.2 billion, is in talks with new investors, including sovereign funds, who could set the price for the round. Tribe Capital, the company's top backer, recently purchased $70 million worth of shares in a secondary deal, resulting in substantial unrealized returns. Shiprocket closed FY23 with operating revenues of $131 million and is actively backed by strategic investors like Zomato, PayPal, and Razorpay.
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Shiprocket planning for a ₹2,500-crore IPO in 2025: Report
Inshorts
·
8m ago
Medial
Zomato and Temasek-backed logistics-tech unicorn Shiprocket is planning to launch an IPO in 2025 to raise ₹2,000-₹2,500 crore, Moneycontrol reported. "Work on the deal has begun...Axis Capital, Kotak Mahindra Capital, JM Financial and BofA Securities are the investment banks acting on the issue," sources cited by the report said.
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Temasek-backed Shiprocket in talks for fresh funding ahead of listing
VCCircle
·
1y ago
Medial
Shiprocket, a logistics unicorn, backed by Temasek and other investors, is reportedly in talks for fresh funding ahead of its planned IPO. The company is said to be considering an internal round of funding as it progresses towards filing the initial public offering. Shiprocket has garnered support from prominent investors like Info Edge, Lightrock, Bertelsmann India, and Temasek.
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Zomato-backed Shiprocket posts 21% increase in FY24 operating revenue
Economic Times
·
9m ago
Medial
Shiprocket, an ecommerce enablement firm backed by Zomato, reported a 21% increase in operating revenue for fiscal 2024 at Rs 1,316 crore ($170 million). However, the company also experienced a widened net loss of Rs 595 crore ($76.7 million) for the fiscal year ended March 2024. Shiprocket aims to achieve full profitability by the end of FY25 and is focusing on core business growth, while also expanding into emerging segments such as cross-border shipping and checkout services. The company is currently in discussions to secure a $75 million funding round led by Tribe Capital.
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Shiprocket has big plans for offline ecommerce space
Economic Times
·
1y ago
Medial
Zomato-backed ecommerce platform Shiprocket is expanding its services to enable ecommerce transactions for offline general trade. The company has launched a WhatsApp storefront bot and introduced a quick shipping service called Shiprocket Quick. Shiprocket has partnered with hyperlocal logistics platforms, including Ola and Porter, to offer their delivery fleets to customers. The new services aim to cater to the growing demand for quick deliveries and help offline merchants stay competitive in the digital age. Shiprocket is also targeting revenue from additional services such as marketing, sourcing, payments, and lending for online sellers.
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Tech IPOs unlikely in next 12-18 months despite benchmark indices hitting new highs
Money Control
·
2y ago
Medial
In the last six months, Mamaearth parent Honasa Consumer is the sole VC-backed unicorn to have submitted draft papers to SEBI. Following the IPOs of Zomato, Paytm, PB Fintech and others, companies have realised that public shareholders have different perceptions of their businesses and valuations as compared to private investors.
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Shiprocket eyes investment from Koch, Tribe amid a larger fundraise
Livemint
·
1y ago
Medial
Koch Investment Group is reportedly looking to acquire a minority stake in Indian logistics startup Shiprocket, in what would be Koch's first investment in the country. The deal, part of a larger funding round of $120 million, could value Shiprocket at $1.1-1.2 billion. Tribe Capital is also expected to participate in the investment. Shiprocket, which is backed by Zomato, has previously raised approximately $350 million and plans to expand through acquisitions in marketing, advertising tools, and customer experience enhancements. The company's losses widened in FY2022-23 despite revenue growth.
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Fire at Shiprocket’s warehouse impacts over 60 brands
Entrackr
·
8m ago
Medial
A devastating fire at Shiprocket's warehouse in Bhiwandi, Maharashtra, caused significant damage last Thursday, affecting at least 61 brands including Sugar, mCaffeine, and Beastlive. The logistics company, which provides supply chain solutions to over 1.5 lakh active businesses, reported goods worth hundreds of crores were destroyed. A Shiprocket spokesperson confirmed the incident, emphasizing that no human lives were endangered and that they are fully cooperating with authorities to investigate the cause. The Zomato-backed unicorn, which turned profitable in 2022, is now focused on understanding the circumstances and ensuring business continuity for affected partners and customers.
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Shiprocket’s D2C marketplace Zop in pilot stage: CEO Saahil Goel
Economic Times
·
11m ago
Medial
Shiprocket, the ecommerce enablement startup backed by Zomato, is piloting a new D2C marketplace called Zop. The platform aims to be a destination for consumers to discover unique Indian D2C brands and explore their stories and products. Shiprocket plans to provide ways for merchants to promote products through ads or sales commissions. The marketplace is set to be officially launched in the next 45 to 60 days. Shiprocket is entering the marketplace segment, competing with major players like Amazon, Flipkart, and Meesho. The company has also introduced other services like a WhatsApp storefront bot and quick shipping for small businesses.
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Zomato, Temasek-Backed Shiprocket Pre-Files for IPO with Sebi
StartupTalky
·
2m ago
Medial
Shiprocket, backed by Zomato and Temasek, has confidentially filed for an IPO with Sebi, aiming to raise INR 2,000-2,500 crore. Established in 2012, Shiprocket serves over 100,000 sellers in India and focuses on rapid commerce, cross-border shipping, and digital payments. Despite a net loss of INR 595 crore in FY24 due to acquisitions, it reported INR 1,316 crore in revenue, reflecting a 21% increase. The firm is collaborating with Swiggy Instamart and Zepto for stock management.
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Shiprocket to soon file confidential prospectus for Rs 2,000-2,500 crore IPO
Economic Times
·
2m ago
Medial
Zomato-backed Shiprocket plans to file a confidential draft prospectus with Sebi for a Rs 2,000-2,500 crore IPO. The ecommerce logistics firm aims to raise Rs 1,000-1,200 crore in fresh capital. Shiprocket has grown 20-25% in FY25 despite a challenging ecommerce landscape, serving mostly tier-II and tier-III cities. It has expanded its focus to payments, cross-border shipping, and quick commerce while acquiring several companies. The IPO is being managed by Axis Capital, Kotak Mahindra, JM Financial, and Bank of America.
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