Zomato-backed e-commerce shipping and enablement platform Shiprocket, on Monday said it has acquired a majority stake in Glaucus Supply Chain Solutions, for an undisclosed amount.
The company said that the pact will drive it ramp up solutions’ development to boost speed, accuracy and efficiency in the post-purchase process across trade channels.
The Delhi-headquartered Glaucus, launched in 2015 by Vivek Kalra, Nitin Dhingra, Mandeep Kanwal and Jayant Mahto, claims to offer business to business (B2B) distribution, sales return management, direct to consumer (D2C) marketplace fulfilment and managed transportation.
"In an environment where it is becoming increasingly important for every brand to delight their customers with both products and services, it is essential to build innovative, resilient solutions to unlock the next phase of growth for the industry at large.
There is a very clear need to remove the fulfilment complexity across B2B and B2C channels for our clients and help them focus on what they do best - make and sell products,” said Saahil Goel, Co-Founder and CEO of Shiprocket.
Shiprocket has been on an acquisition spree. On January 7, Shiprocket acquired a 75% stake in customer data platform (CDP) Wigzo Tech for an undisclosed amount.
On February 4, Shiprocket invested $1.5 million in Logibricks Technologies Pvt Ltd, a software-as-a-service (SaaS) platform that enables online retailers to manage their end-to-end operations on the post-purchase side.
Shiprocket had also partnered with Mumbai Angels Network, a platform for early-stage investments for ‘The Co-Investment Program’.
In December last year, Shiprocket brought in Zomato as an investor. It raised $185 million (Rs 1380 crore) as part of its Series E funding round, co-led led by Zomato Ltd, Temasek Holdings and Lightrock India.
In July 2021, the company raised $41.3 million (Rs 305 crore) as part of its Series D1 funding round. The funding was co-led by Paypal's corporate VC arm PayPal Ventures, Info Edge Ventures along with existing investor Bertelsmann. In February 2021, it raised $27 million (Rs 200 crore) in an extended Series C round of funding co-led by returning investor Tribe Capital and new backer March Capital.
Operated by Bigfoot Retail Solutions, Shiprocket was founded in 2017 by Gautam Kapoor, Saahil Goel, and Vishesh Khurana.
The platform powers shipping and fulfilment for small and medium enterprises (SMEs), direct-to-consumer (D2C) retailers, and social commerce sellers across multiple categories. Its shipping solutions are present across more than 29,000 pin codes within India and 220 countries across the world.
Shiprocket also claims it delivers packets to more than 66 million consumers annually and is growing 3x year-on-year.
