As per this list, India has the third-highest number of Gazelles (start-ups that started out in 2014 on average when their founders were 34 years old), as per a report by research platform Hurun.
The startup aims to utilise the funding towards product enhancement and global business growth by deploying the solution at additional overseas airports, ports, and enterprise cargo handling customers.
Shiprocket raises $27 million in new funding round
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Last Updated: Feb 18, 2021, 08:08 AM IST
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Synopsis
Shiprocket, an e-commerce logistics platform, says it will use the funding for development of its product roadmap, including hiring talent, and global expansion.
ETtech
Bengaluru: New Delhi-based logistics aggregator Shiprocket has raised $27 million in a mix of primary and secondary capital as part of its new funding round led by US-based venture capitalists Tribe Capital and March Capital. DST Global’s Rahul Mehta and Bertelsmann India Investments were the other participants in the funding round.
The round gives an exit to some early investors in the company with returns ranging between six-seven times, the company said. The fundraising also brings the total capital raised by the eight-year-old company to $53 million.
[Tech30 Special Mention] How Gurugram startup Shippigo is digitising logistics for online SME sellers
A Tech30 special mention startup, Shippigo is a plug and play solution that enables companies to start shipping across the world instantly.
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One of Saurabh Jaitly’s friend a platinum seller on Amazon India confided in him the challenges he had to encounter while shipping his products. While the local logistic companies helped ship the orders, with no simple tracking mechanism, Saurabh’s friend had to process every order manually. In fact, he had to do the same for the orders he received on Shopify.