Shiprocket Raises $27 Mn From Tribe Capital, March Capital After D2C-Powered Logistics Boom In 2020
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India, Feb. 18 -- New Delhi-based logistics aggregator Shiprocket has raised $27 Mn in a mix of primary and secondary share transactions from US-based venture capitalists Tribe Capital and March Capital. DST Global's Rahul Mehta and Bertelsmann India Investments also backed the startup in the latest round, which had been reported in part by Inc42 in December 2020.
The new funds would be utilised for product development, hiring talent across product and engineering roles, and expansion globally. The latest round gives an exit to some early investors in the company with 6x-7x returns, the company said in a statement. The fundraising also brings the total capital raised by the eight-year-old company to $53 Mn. The company last raised funds ...
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