Shiprocket, a Delhi-based ecommerce fulfillment platform that claims to enable fast and cost-effective shipping for D2C retailers, has raised $41.3 million (Rs 305 crore) in Series D1 funding.
The round was co-led by PayPal Ventures, the corporate VC arm of PayPal, Info Edge Ventures, an investment fund backed by publicly listed Info Edge and Temasek Holdings, along with existing investor Bertelsmann India Investments.
Existing investors March Capital and Tribe Capital took part in the round. The funding round also saw participation from strategic partners, such as Razorpay and Innoven Capital, and successful entrepreneurs including Cred founder Kunal Shah and Zomato founder Deepinder Goyal.
The latest infusion of capital brings Shiprocket’s total funding to $94.3 million. Shiprocket aims to leverage new funds to fuel product development for existing and new products, invest in R&D and market expansion, and accelerate overall growth.
