Shiprocket aims to raise $75-$100 mn led by Tribe Capital: Report

NEW DELHI: Homegrown logistics solution provider Shiprocket is reportedly in talks with top VC firms for a fund-raise upto $75-100 million, led by US-based investment firm Tribe Capital.

According to a TechCrunch report, citing sources, “the funding talks are ongoing and the terms may change”.

Both Tribe Capital and Shiprocket did not comment on the report.

Bengaluru-headquartered Shiprocket aims to become IPO-ready in the next 12 to 18 months, the report said on Tuesday.

Shiprocket aims to disburse around Rs 100 crore to SMBs in the next 12 months.

In its pilot phase, Shiprocket has already enabled around 150 SMBs with access to vital growth capital and disbursed more than Rs 35 crore via Shiprocket Capital, it said last week

“India is on track to build a thriving ecosystem of 1 million e-commerce businesses by 2025. As an e-commerce enablement platform, we aim to empower them with flexible capital to grow their businesses and prove to be their partner in growth through Shiprocket Capital,” said Saahil Goel, Co-founder and CEO of Shiprocket.

In order to enable seamless capital disbursement, Shiprocket has partnered with India's leading non-banking financial companies (NBFCs) like InCred, Indifi, Klub, Stride, Vedfin, Velocity, and GetVantage.

Launched in 2017, Shiprocket provides a technology stack to help retailers integrate their shopping websites on Shopify, Magento, WooCommerce, Zoho, and others.

Shiprocket also offers state-of-the-art fulfilment solutions with more than 45 warehouses located across the country.