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by IANS |
New Delhi, June 15 (IANS) Logistics technology platform Shiprocket on Wednesday announced it has acquired a majority stake in Pickrr, an ecommerce software-as-a-service (SaaS) platform for D2C brands and SME e-tailers for around $200 million (nearly Rs 1,560 crore).
The cash, stock and earn-out deal will create a single gateway for other enablers and suppliers to service the digital retailer community and strengthen Shiprocket's position as the leading D2C enablement operating system, the company said in a statement.
The two platforms process 10 million shipments per month with a substantial customer base of more than 75,000 merchants, including direct-to-consumer (D2C) brands, SME e-tailers, and social commerce sellers.
"Shiprocket and Pickrr are uniquely positioned to capture this opportunity by laying the building blocks of this software infrastructure. We look forward to building a formidable e-commerce logistics ecosystem with our complementary products and customer segments," said Saahil Goel, Co-founder and CEO of Shiprocket.
Shiprocket and Pickrr have built robust technology stacks and operational excellence to enable their customers to benefit from their unparalleled growth in the e-commerce ecosystem.
The combined platform will be a boost for the ecosystem comprising shipping partners, warehouse providers, shopping carts, marketplaces, ERP systems, payment players, identity and credit information providers.
"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," said Gaurav Mangla, Co-Founder of Pickrr.
Established in 2017, Shiprocket is backed by investors such as Temasek, Bertelsmann India Investments, PayPal, Tribe Capital, Zomato, Lightrock, March Capital, Moore Strategic Ventures, Infoedge, etc.A
Started in 2018, Pickrr is backed by investors such as Omidyar Network, Guild Capital, Amicus, IIFL and Ananta.
