SAI Global : Shiprocket To Raise Rs 219 Cr Led By KDT Ventures, Others

Shiprocket, a logistics SaaS unicorn, is raising ₹219 crore ( Around $26 million) in an extension of its Series E funding round. The round is led by KDT Ventures, with also saw participation from MUFG Bank, Tribe Capital, and SAI Global. The company's board has approved issuing 50,461 Series E3 CCPS at ₹43,394 each, as per regulatory filings. KDT Ventures will invest ₹124.5 crore, followed by MUFG Bank with ₹49.8 crore, Tribe Capital with ₹6.23 crore, Huddle Collective with ₹34.7 lakh, and SAI Global India with ₹38 crore. Read also - Seafood Startup Captain Fresh Raises $12Mn In Funding This funding is part of a larger round, with more investments expected. Through this investment, Logistics and supply chain enabler Shiprocket is offering shares equal to 2.2% of its ownership. The logistics sector is evolving, driven by e-commerce growth and the demand for better supply chain solutions. Shiprocket addresses these needs with innovative tools that help businesses improve logistics and shipping efficiency while boosting customer satisfaction with reliable tracking and delivery. Its strong investor base, including Bertelsmann Nederland B.V., Zomato, Temasek, LightRock, and PayPal, shows confidence in its business model and growth potential. About Shiprocket Shiprocket, founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, offers logistics and supply chain solutions. It helps retailers connect their shopping websites with e-commerce platforms like Shopify, Magento, and others. For the fiscal year ending March 2024, the company's revenue grew 21% year-on-year to ₹1,316 crore, while its losses were ₹595 crore. Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES: Startup Funding and Stories: Discover Funding Trends and Stories Shaping Indian Startups. Funding News: Your Gateway to Every Funding Update. Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates. Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.