Indian logistics solution provider, Shiprocket, is reportedly in talks with top venture capital (VC) firms, including US-based Tribe Capital, to raise funds in the range of $75-100 million. The company, headquartered in Bengaluru, has aspirations to become IPO-ready within the next 12 to 18 months. While discussions are ongoing, the terms of the fundraising may undergo changes, as per a report from TechCrunch.
Shiprocket is strategically planning to collaborate with Tribe Capital to secure the substantial funding, although neither party has officially commented on the matter as of now.
With an eye on its IPO readiness, Shiprocket aims to disburse approximately Rs 100 crore to Small and Medium-sized Businesses (SMBs) within the next 12 months. In its pilot phase, Shiprocket has already facilitated access to essential growth capital for around 150 SMBs, disbursing over Rs 35 crore through its Shiprocket Capital initiative.
Saahil Goel, Co-founder and CEO of Shiprocket, expressed the company’s commitment to empowering the thriving ecosystem of one million e-commerce businesses in India by 2025. As an e-commerce enablement platform, Shiprocket seeks to provide flexible capital to SMBs, positioning itself as a growth partner through Shiprocket Capital.
To ensure smooth capital disbursement, Shiprocket has forged partnerships with leading non-banking financial companies (NBFCs) in India, including Klub, Stride, InCred, Indifi, GetVantage, Vedfin, and Velocity.
Established in 2017, Shiprocket offers technology solutions to assist retailers in integrating their online shopping platforms across various channels such as WooCommerce, Zoho, Shopify, Magento, and more. The company also provides advanced fulfillment solutions through its network of over 45 warehouses located across India.
As Shiprocket continues its growth trajectory and plans for an IPO in the near future, the potential funding from Tribe Capital could play a pivotal role in accelerating its expansion and further establishing its presence in the competitive logistics and e-commerce landscape. The outcome of the fundraising discussions remains eagerly awaited, as Shiprocket aims to fuel the growth of India’s e-commerce businesses through strategic capital infusion.
