Shiprocket, a homegrown logistics solution provider is reportedly planning to collaborate with top VC firms. The plan is to raise funds from Tribe Capital which is a US-based investment firm. The fund is expected to cost somewhere around USD 75-100 million, as per the report.
TechCrunch report further states that “the funding talks are ongoing and the terms may change”.
By the time of writing, neither - Shiprocket nor Tribe Capital did not comment on anything related to the collaboration and fundraising.
Shiprocket, which is headquartered in Bengaluru aims to become the IPO-ready in the next 12 to 18 months, the report further said. The company is said to be disbursing around Rs 100 crore to SMBs in the next 12 months.
In its pilot phase, Shiprocket has already enabled around 150 SMBs with access to vital growth capital and has disbursed more than Rs 35 crore via Shiprocket Capital, the company stated last week.
Saahil Goel, Co-founder and CEO of Shiprocket said, “India is on track to build a thriving ecosystem of 1 million e-commerce businesses by 2025. As an e-commerce enablement platform, we aim to empower them with flexible capital to grow their businesses and prove to be their partner in growth through Shiprocket Capital.”
To enable seamless capital disbursement, the logistic solution provider company has partnered with India's leading non-banking financial companies (NBFCs) like Klub, Stride, InCred, Indifi, GetVantage, Vedfin, and Velocity.
ALSO READ: iPhone SE 4 expected to launch soon, with iPhone 14 like-features
Launched in 2017, Shiprocket provides a technology to help retailers integrate their shopping websites on WooCommerce, Zoho, Shopify, Magento and more.
Shiprocket further offers state-of-the-art fulfilment solutions with more than 45 warehouses which are located across India.
ALSO READ: WhatsApp adds two new features for iOS users for better experience | Details here
Inputs from IANS
