The third-party logistics company Shiprocket is moving towards a major amalgamation in the logistics sector. Recently, the company has picked a stake of 80% in its rival company Pickrr for a deal with a value of $200 million. Shiprocket is expected to complete the acquisition of Pickrr in the upcoming few months giving an exit to the investors of Pickrr, after which Shiprocket will absorb the overall team of Pickrr. The founder of Pickrr however, is likely to get a stake in Shiprocket which has not yet been disclosed by the companies.
One of the leading companies in the industry of logistics, Shiprocket was founded in the year 2017 by the founder and CEO of the company Saahil Goel and co-founder Vishesh Khurana, the company is currently offering its services to more than 70,000 online sellers to ship their products around the country. According to the claims made by the company, Shiprocket has made over 2 lakh shipments daily across more than 29,000 pin codes in over 220 countries. Also, the company has mentioned that in the fiscal year 2021, it has recorded a revenue of $49.7 million. It should be noted that Shiprocket is a 3PL aggregator and does not compete directly with other third-party logistics (3PL) firms. Including the likes of DTDC, Xpressbees, Ecom Express, Delhivery and Shadowfax, the company has more than 17 courier partners working with it.
Shiprocket was founded in the year 2017 by the founder and CEO of the company Saahil Goel.
Shiprocket has raised a valuation of $185 million in 2021 from Temasek, Zomato and others. This year has been great for Shiprocket, as the company has been able to acquire majority stakes in several companies like martech start-up Wigzo, SaaS-based company Logibricks, tech-powered company Glaucus Supply Chain and B2B logistics platform Rocketbox. The start-up supported by food delivery company Zomato is also in the concluding phases of acquiring the Indian business of Shyplite and this would be the sixth acquisition of Shiprocket if the company is to get it through.
The acquisition of Pickrr will be the cherry on the top for Shiprocket as it will help to strengthen the position of the company in the logistics industry as a platform that serves brands of all sizes, small or big, and also provides them with the services of after-sale inclusion the SaaS offerings and delivery as well. Saahil Goel, the founder and CEO of Shiprocket has figured the acquisition of Pickrr will serve as a complement to the potential and capabilities of Shiprocket as Pickrr has always focused on the commercial brands for greater reach while Shiprocket has dealt in D2C and SBM’s brands.
This year, Shiprocket has acquired majority stakes in several companies in the logistics sector.
Pickrr, a logistics player based in Delhi – NCR was founded in the year 2015 by Ankit Kaushik, Rhitiman Majumder and Gaurav Mangla. With the existing investors like Amicus Capital, Ananta Capital, IIFL and others, the start-up has reached a growth stage of $16 million to date in two rounds. The company majorly operates in the fulfilment segment of large-scale logistics companies. B2B distribution, sales return management, D2C marketplace fulfilment, and controlled transportation are among the primary features of the plug-and-play SaaS system.
Pickrr also concentrates on the market of third-party logistics like Shiprocket, serving more than 75,000 sellers and bringing logistics companies over 20 including Blue Dart, India Post, and Ekart. Pickrr has recently launched Fastrr, which is a tool by the company to assist online retailers to create a better checkout experience and manage abandoned carts.