Breaking NewsIndian Beehive

Shiprocket raises $7.5 Mn in extended Series C round

Delhi: Logistics aggregator for D2C sellers Shiprocket is raising more funds in its Series C round from March Capital and existing backer Tribe Capital LLC.

Shiprocket will allot 81,395 Series C3 CCPS at an issue price of Rs 6802.93 per share to raise Rs 55.4 crore or $7.5 million from the two investors, regulatory filings show. While March Capital will invest Rs 29.53 crore, Tribe Capital will pick up shares worth Rs 25.84 crore in the fresh tranche.

Following the latest investment, the promoters’ — Goel, Kapoor, and Khurana — equity has been diluted to 16.8%. Tribe Capital and March Capital have increased their respective stakes to 21.12% and 5.27%.

Launched by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket provides a technology stack to help retailers integrate their shopping websites on e-commerce portals for workflow, inventory, and order management. The three four-year-old company connects merchants, consumers, and supply chain partners across 27,000 pin codes in India and 220 additional countries.

Source
ENTRACKR

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button