Shiprocket inks agreement to acquire Pickrr in a $200M deal
The two platforms process 10 million shipments per month with a customer base of 75,000+ merchants, including D2C brands, SME e-tailers, and social commerce sellers.
, a tech-enabled shipping and fulfillment platform, on Wednesday, said it has inked a deal to acquire a majority stake in , an ecommerce SaaS (Software-as-a-Service) platform for D2C (Direct-to-Consumer) brands and SME e-tailers.
The deal value is estimated at $200 million, comprising cash, stock, and earn-out.
According to a statement, the deal will help Shiprocket emerge as India’s largest and fastest-growing ecommerce enablement platform. The two platforms process 10 million shipments per month with a customer base of over 75,000 merchants.
The startups said that together the0y will provide a full-stack logistics and fulfillment platform to D2C brands, SME (Small-to-Medium Enterprises) e-tailers, and social commerce retailers. Services include same-day and next-day shipping, quick fulfillment, fast check-out, easy returns, and cross-border shipping, among others.
Saahil Goel, Co-founder and CEO of Shiprocket, said, “We are excited to have Pickrr as part of the Shiprocket family, combining the two largest platforms enabling direct commerce. Together, we will define the future of ecommerce enablement in India, creating the most comprehensive enablement software stack that every retailer can use to drive success in their digital journeys."
Both businesses, which individually were on track for full-year profitability, once combined will help accelerate that trajectory along with IPO timelines, according to the statement.
Gaurav Mangla, Co-founder of Pickrr, added, “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 ecommerce logistics space.”
Established in 2017, Shiprocket started its journey by building 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.
Shiprocket is backed by the likes of , Temasek Holdings, Lightrock. Moore Strategic Ventures, 9Unicorns, InfoEdge Ventures, and March Capital.
Edited by Affirunisa Kankudti