The Shiprocket, which enables shipping for direct-to-consumer (D2C) retailers, has raised $41.3 million in Series D1 funding, co-led by PayPal Ventures, the corporate venture capital arm of American payments major PayPal Inc. and existing investor Bertelsmann India Investments.
New investor Info Edge Ventures and existing backers March Capital and Tribe Capital took part in the round. Strategic partners such as Razorpay and Innoven Capital, and entrepreneurs including Cred founder Kunal Shah and Deepinder Goyal, founder, Zomato also participated.
The latest fund-raise takes Shiprocket’s total funding to $94.3 million. The Delhi-based firm will invest the capital in existing and new products, research and development, hiring, continue market expansion and accelerate overall growth.
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A part of the funds will also be directed towards its new strategic initiatives, including global expansion starting with the Middle-East.
