Shiprocket acquires e-commerce platform Pickrr for Rs 1,560 cr

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.

Latest News
Rajasthan Cong seeks NIA probe into BJP's alleged links with terrorists Tue, Jul 05, 2022, 04:30 PM
Will BJP respect 5-term Jalalpore MLA's wishes and renominate him? Tue, Jul 05, 2022, 04:29 PM
Congress raises pitch on PSI recruitment scam in Karnataka, BJP hits back Tue, Jul 05, 2022, 04:17 PM
ACB conducts raids on Oppn leader Siddaramaiah's right hand man in K'taka Tue, Jul 05, 2022, 04:16 PM
Proposal sent to rename wards in Ayodhya after Kalyan Singh, Ashok Singhal Tue, Jul 05, 2022, 04:06 PM
David Warner's wife fumes over life-time ban on husband from taking up leadership role in Australia Tue, Jul 05, 2022, 03:55 PM
'Chalk and cheese': Stark contrast in Rishabh Pant's batting in red and white-ball cricket Tue, Jul 05, 2022, 03:44 PM
Juvenile held in Delhi for raping 12-year-old kin Tue, Jul 05, 2022, 03:27 PM
Sudanese leader says military to stay out of political talks Tue, Jul 05, 2022, 03:22 PM
Kerala Minister Saji Cherian criticises Constitution, rtd judge seeks resignation Tue, Jul 05, 2022, 03:20 PM
Palestine rejects results of US probe on Al Jazeera journo's killing Tue, Jul 05, 2022, 03:15 PM
The Ukraine war shapes a new world order - unipolarity crumbles to give way to multipolarity-Part 2 Tue, Jul 05, 2022, 03:04 PM
India were disappointing and timid to say the least on Day 4, says Shastri Tue, Jul 05, 2022, 02:49 PM
Elderly couple found murdered in Kanpur Tue, Jul 05, 2022, 02:44 PM
India has to limit loan Tue, Jul 05, 2022, 02:34 PM