Zomato-backed Shiprocket is all set to acquire a 75% stake in Delhi-based Wigzo Tech which offers an enterprise automation suite that provides intelligence on customer purchasing behaviour, the ecommerce shipping and enablement firm said on January 7.
While Shiprocket did not disclose the size of the deal, sources pegged it at $20-25 million (Rs 148.6-185.8 crore) .
Moneycontrol had reported this development earlier this week.
The deal will help Shiprocket to expand its product stack for online retailers onboarding its platform and create a more personalised end-to-end consumer experience.
Shiprocket’s expertise lies in leveraging delivery-behaviour data for end-to-end logistics.
India’s direct to consumer (D2C) space is currently clocking huge growth. Today, the country has over 10,000 D2C brands, with the sector projected to touch $100 billion by 2025.
"For D2C brands, leveraging data can play a pivotal role in having an edge above their contemporaries. Modern consumers are drawn to brands that take a carefully tailored approach to their buying experience. This is where Wigzo is proving a game-changer in assisting D2C brands," said Saahil Goel, co-founder and CEO of Shiprocket.
"With its underlying CDP rails and other applications such as business intelligence, consumer behaviour, data analytics, and automated assistance, Wigzo packs a cutting-edge platform enabling every D2C brand to create tailored and personalised experiences for their target customers," he added.
Founded by Umair Mohammed, Himanshu Kaushik, and Mohammed Atyab, Wigzo claims to be having more than 400 e-commerce companies and D2C brands as clients including Leaf Studios, Power Gummies and Swatantra Clothing.
Last year, Shiprocket roped in Zomato as an investor by finalising a deal to raise $185 million in a Series E round which was co-led by the food delivery app and Singapore's sovereign wealth fund Temasek.
This is likely to be one of the first acquisitions made by Shiprocket after raising the funds.
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