Logistics unicorn Shiprocket has logged a 70% year-on-year (YoY) jump in its topline at Rs 611 crore in the year ended March 2022, as per the company’s filings with the Ministry of Corporate Affairs (MCA).
The startup, operated by Bigfoot Retail Solutions Pvt Ltd, has joined the much-coveted unicorn club after raising Rs 260 crore (around $33 million) from existing investors Temasek Holdings and Lightrock India, in August. The latest fundraise pushed the company’s valuation to $1.2 billion.
Shiprocket incurred over Rs 518 crore as cost of materials consumed in FY22, surging about 81% YoY. It also saw a sharp rise in its employee benefit expenses with a 188% gain in the last financial year, at Rs 122.7 crore.
However, the Delhi-based logistics player’s finance costs in FY22 sunk dramatically at Rs 38.5 lakhs, as against Rs 1.76 crore in the year ended March 2021.
Shiprocket made its fifth acquisition in July with Arvind Ltd’s omnichannel software-as-a-service (SaaS) platform, Omuni, which it bought for about Rs 200 crore. Its other acquisitions include Pickrr, Glaucus, Rocketbox and Wigzo.
As for future acquisitions, the logistics player had said it remained bullish on engaging with startups that are critical pieces of the entire post-purchase journey of the consumer.
Founded in 2017 by Gautam Kapoor, Saahil Goel, and Vishesh Khurana, Shiprocket offers logistics services to small and medium-sized businesses (SMEs), and direct-to-consumer (D2C) brands and social commerce sellers across a variety of categories.
In December last year, the company raised $185 million as part of its Series E round co-led led by Zomato Ltd, Temasek Holdings and Lightrock India.
