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Shiprocket acquires B2B logistics aggregator Rocketbox

The Rocketbox founders will join the Shiprocket leadership team, and continue to build the cargo product as part of this deal, a statement said

Topics
logistics sector | M&As in India

Press Trust of India  |  New Delhi 



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Tech-enabled logistics and fulfilment company Shiprocket on Friday said it has acquired Rocketbox, a B2B logistics aggregator platform, for an undisclosed amount.

The Rocketbox founders will join the Shiprocket leadership team, and continue to build the cargo product as part of this deal, a statement said.

"Rocketbox, which is now Rocketbox by Shiprocket, and Shiprocket complement each other to address the pain points and technical complexities that merchants/brands face while reducing the costs of LTL (Less-than-Truckload) cargo shipping," it added.

This product aims to improve the service quality through dedicated customer support, transparent SLAs (service-level agreements), and ease out booking of bulk shipments.

Together, Shiprocket and Rocketbox bring a robust combination of technology, efficiency, expert cargo partners, and lower shipping costs to provide a hassle-free end-to-end experience for customers till the last mile, it said.

Shiprocket is on a mission to provide a frictionless shipping experience for brands and online retailers, and over the years, we have evolved and grown immensely.

Given the rapidly changing consumer expectations and their preference for quick, seamless deliveries, it's imperative to ensure all legs of the supply chain are optimised," Shiprocket co-founder and CEO Saahil Goel said.

Recently, Shiprocket had said it is "committed" to acquiring a 75 per cent stake in customer data platform (CDP) Wigzo Tech for an undisclosed amount.

Launched in June 2015, Rocketbox began as an intra-city on-demand truck provider and aggregated with over 5,000 drivers on its platform. Post a Series A funding round from Delhivery and expansion of operations, Rocketbox launched its application suite catering to vendor payment, client billing, fleet management, client dashboard and driver app.

By 2020, the platform was catering to over 28,000 pin codes across India, working with seven carriers, and offering 11 different services.

When we met Saahil and Gautam we immediately realised that it was the right fit for us as a team, as we both have similar objectives of making the fulfilment experience of SMEs seamless with an inherent objective of disrupting the status quo. I look forward to working with the Shiprocket team to take Rocketbox to new heights and continue on this journey together, Raghav Singhania, co-founder and CEO of Rocketbox, said.

Shiprocket - which provides services across over 29,000 pin codes and has multiple solutions - is backed by marquee investors such as Zomato, Tribe Impact Capital, March Capital, PayPal Ventures, Info Edge Ventures, Lightrock and Bertelsmann India Investments.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Fri, January 14 2022. 23:20 IST

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