Shiprocket, funded by Zomato, will pay $200 million for Pickrr
With a combined customer base of over 75,000 merchants, including D2C brands, SME e-tailers, and social commerce vendors, the two logistics providers execute 10 million shipments every month.
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Shiprocket, a logistics tech firm financed by Zomato, has agreed to buy a controlling position in Pickrr for an estimated $200 million in cash, stock, and earn-out.
In a Series E financing headed by Zomato and Singapore's government wealth fund Temasek, Shiprocket raised $185 million last year.
"With the consolidation, various enablers and suppliers will be able to support the ever-growing digital store community through a single portal." Shiprocket stated, "It aspires to strengthen its position as the top D2C enablement operating system."
The companies will provide D2C businesses with a full-stack logistics and fulfilment platform that includes, among other things, same-day and next-day shipping, quick fulfilment, quick check-out, easy returns, and cross-border shipping.
"We have a once-in-a-lifetime chance to define how merchants connect with logistics operators and consumers to produce consumer joy," said Saahil Goel, co-founder and CEO of Shiprocket. By developing the foundations of this software infrastructure, Shiprocket and Pickrr are uniquely positioned to seize this opportunity."
Through the hundreds of connectors it has with various companies, the unified platform will include shipping partners, warehousing providers, shopping carts, marketplaces, ERP systems, payment players, identity and credit information providers, and many more.
This merger will also result in a company that serves more than 75,000 merchants.
"As we analysed what the acquisition of Pickrr may represent, we were clear that it would be mutually advantageous, not just for the two platforms, but for the entire e-commerce logistics market," Gaurav Mangla, co-founder of Pickrr, stated. Both Shiprocket and Pickrr are industry leaders, and we're excited to collaborate with them to develop cutting-edge solutions and propel the e-commerce logistics sector into its next phase of growth."
Shiprocket was founded in 2017 as a DIY technology stack aimed towards social sellers and small businesses. Pickrr, on the other hand, has been developing an operation-plus-technology package for larger brands and businesses since 2018.
