Zomato-backed logistics tech company Shiprocket has inked an agreement to acquire a majority stake in Pickrr in an estimated $200 million deal comprising cash, stock and earn-out.
Last year, Shiprocket raised $185 million in a Series E round co-led by Zomato and Singapore's sovereign wealth fund Temasek.
“The consolidation now also creates a single gateway for other enablers and suppliers to service the ever growing digital retailer community. It aims at strengthening its position as the leading D2C enablement operating system,” said Shiprocket.
The companies will offer D2C companies a full-stack logistics and fulfillment platform, including same-day and next-day shipping, quick fulfillment, fast check-out, easy returns, and cross-border shipping, among many other features and services.
Saahil Goel, co-founder and CEO of Shiprocket, said, “We have a once-in-a-lifetime opportunity to define how retailers interact with logistics operators and consumers to create consumer delight. Shiprocket and Pickrr are uniquely positioned to capture this opportunity by laying the building blocks of this software infrastructure.”
The combined platform will comprise shipping partners, warehouse providers, shopping carts, marketplaces, ERP systems, payment players, identity and credit information providers and many more by making them accessible to the D2C brands through the hundreds of integrations it has with these players.
This consolidation will also create an entity which caters to a merchant base of over 75,000.
Gaurav Mangla, co-founder of Pickrr, said, “As we analysed what the acquisition of Pickrr could mean, we were certain that it would be mutually beneficial, not just for the two platforms, but the entire e-commerce logistics space. Both Shiprocket and Pickrr are frontrunners in the industry, and we are keen to work closely with them to build futuristic solutions and transform the e-commerce logistics sector by driving it to its next growth phase.”
Established in 2017, Shiprocket started as a DIY technology stack focusing on social sellers and SMEs. On the other hand, since 2018, Pickrr has built an operation-plus-technology offering for larger brands and enterprises.
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