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Zomato bids to acquire Shiprocket at Rs. 16000 Crores

Medial

Medial · 1y ago

Zomato bids to acquire Shiprocket at Rs. 16000 Crores

Zomato, the publicly traded food delivery company, has proposed to acquire Indian e-commerce shipping startup Shiprocket. The offer values Shiprocket at around $2 billion, according to sources. Shiprocket, last valued at approximately $1.2 billion, raised funds in August 2022. No final decision has been reached, and both companies declined to comment on the matter.

Related News

Zomato denies acquisition rumours of Shiprocket

Livemint

Livemint · 1y ago

Zomato denies acquisition rumours of Shiprocket

Food delivery platform Zomato has denied reports claiming that it will acquire e-commerce shipping startup Shiprocket for $2 billion. Zomato issued a statement clarifying that it has no plans for any acquisition at the moment and cautioning investors against incorrect news. The reports originated from Bloomberg, suggesting that Zomato made an offer to acquire Shiprocket. Zomato's stock has performed well this year, with a 108% return in 2023 and a net profit of ₹36 crore in the September quarter.

Shiprocket eyes investment from Koch, Tribe amid a larger fundraise

Livemint

Livemint · 11m ago

Shiprocket eyes investment from Koch, Tribe amid a larger fundraise

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.

Zomato-backed Shiprocket posts 21% increase in FY24 operating revenue

Economic Times

Economic Times · 8m ago

Zomato-backed Shiprocket posts 21% increase in FY24 operating revenue

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.

Fire at Shiprocket’s warehouse impacts over 60 brands

Entrackr

Entrackr · 7m ago

Fire at Shiprocket’s warehouse impacts over 60 brands

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.

Exclusive: Shiprocket converts to public entity ahead of 2025 IPO

Entrackr

Entrackr · 5m ago

Exclusive: Shiprocket converts to public entity ahead of 2025 IPO

Exclusive: Shiprocket converts to public entity ahead of 2025 IPO Logistics and supply chain enabler Shiprocket is gearing up for a definitive initial public offering (IPO) plan in 2025, taking its first major step toward public listing by converting it into a public entity. The board at Shiprocket has approved a resolution to change its status to a public company and rename it from “Shiprocket Private Limited” to “Shiprocket Limited”, as per its regulatory filing. The conversion into the public entity has come a month after raising $26 million in its Series E round led by KDT Ventures, with participation from MUFG Bank, Tribe Capital, and SAI Global. The company will likely raise more capital in its pre-IPO round. Shiprocket reportedly plans to raise between Rs 2,000-2,500 crore through its IPO, which will include both primary components and an offer for sale (OFS). According to media reports, the company has enlisted Axis Capital, Kotak Mahindra, JM Financial, and BofA Securities as its investment bankers for the offering. Founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket is a logistics and supply chain platform that enables businesses to streamline shipping through courier integration, real-time tracking, and automated solutions. Shiprocket has raised over $320 million to date and is valued at $1.21 billion. 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.

Shiprocket to soon file confidential prospectus for Rs 2,000-2,500 crore IPO

Economic Times

Economic Times · 1m ago

Shiprocket to soon file confidential prospectus for Rs 2,000-2,500 crore IPO

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.

MUFG Bank, Koch Group Seek CCI Approval For Stake In Shiprocket

Inc42 · 8m ago

MUFG Bank, Koch Group Seek CCI Approval For Stake In Shiprocket

Financial services group MUFG Bank and US conglomerate Koch Group have approached the Competition Commission of India (CCI) for approval to acquire minority stakes in logistics unicorn Shiprocket. MUFG Bank plans to acquire a minority shareholding in Shiprocket as part of the proposed transaction. Shiprocket recently reported that it is on track to achieve profitability by FY2025. Koch Group, through its subsidiary and venture capital firm KDT Venture Holdings, is also eyeing a stake in the logistics company.

Grapevine: Shiprocket set to file for IPO; Blackstone joins Statkraft race

VCCircle

VCCircle · 1m ago

Grapevine: Shiprocket set to file for IPO; Blackstone joins Statkraft race

Logistics company Shiprocket is preparing to file for an initial public offering (IPO) soon, as per media reports. The company, backed by Zomato, is expected to submit its draft prospectus with the Securities and Exchange Board of India (SEBI). Meanwhile, private equity giant Blackstone is reportedly in the advanced stages of negotiations to acquire Statkraft’s India business, marking significant moves in the logistics and energy sectors.

Exclusive: Logistics SaaS unicorn Shiprocket to raise $26 Mn

Entrackr

Entrackr · 6m ago

Exclusive: Logistics SaaS unicorn Shiprocket to raise $26 Mn

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. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.

Logistics firm Shiprocket to raise Rs 2,500 Cr for its IPO

YourStory

YourStory · 1m ago

Logistics firm Shiprocket to raise Rs 2,500 Cr for its IPO

Gurugram-based Shiprocket plans a confidential draft paper filing with SEBI for an IPO to raise Rs 2,000–2,500 crore. The IPO will include a fresh issue and offer for sale by current shareholders. Funds will support product development, tech upgrades, acquisitions, and logistics expansion. Shiprocket, supported by Temasek and Zomato, has evolved from a shipping aggregator to a D2C and small business enabler. Recently, it launched India's first AI-integrated model context protocol server to enhance autonomous digital commerce.

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