Bengaluru: Ecommerce shipping and enablement firm Shiprocket on Friday said it will acquire a 75% stake in customer data platform Wigzo Tech. The company did not disclose the value of investment, but said it will expand its product line-up for online retailers who joined the platform through this partnership.
Shiprocket is backed by Zomato Ltd, Temasek Holdings, Lightrock India, 9Unicorns, InfoEdge Ventures, Moore Strategic Ventures and March Capital. Prominent individual investors include Brijesh Agrawal (IndiaMart), Peyush Bansal (Lenskart), Sanil Sachar (Huddle Ventures), Varun Alagh (Mamaearth), Sameer Mehta and Aman Gupta (Boat Electronics) and Ashish Gupta (Helion Ventures).
New Delhi-based Shiprocket aims to help direct-to-consumer (D2C) brands by ramping up their technology stack to strengthen marketing conversions.
Operated by Bigfoot Retail Solutions, Shiprocket was founded in 2017 by Saahil Goel, Gautam Kapoor and Vishesh Khurana. It provides small businesses, retailers and social commerce sellers shipping and fulfilment solutions across 29,000 pin codes in India and 220 countries. The startup also offers a cash-on-delivery gateway. Shiprocket claims to deliver shipments to more than 66 million consumers annually and is growing 3x year-on-year.
Wigzo Tech, started by Umair Mohammed, Himanshu Kaushik and Mohammed Atyab, serves over 400 e-commerce and D2C companies, including Leaf Studios, Power Gummies, Stitch Clothing, House of Rare, Morphy Richards, Forest Essentials, Ethos Watches and Basics Life.
“India’s D2C space is showcasing massive growth. India has over 10,000 D2C brands, with the sector projected to touch $100 billion by 2025. For D2C brands, leveraging data can play a pivotal role in having an edge over contemporaries. Suffice to say, modern consumers are drawn to brands that take a carefully tailored approach to their buying experience. This is where Wigzo is proving a game-changer in assisting D2C brands,” said Goel, co-founder and CEO, Shiprocket.
“With its underlying customer data platform rails and other applications such as business intelligence, consumer behaviour, data analytics and automated assistance, Wigzo packs a cutting-edge platform enabling every D2C brand to create tailored and personalized experiences for target customers. It also helps brands analyse data in real-time through big data and AI or ML algorithms with just a few clicks,” he added.
Shiprocket has also partnered with Mumbai Angels Network, a platform for early-stage investments as the latest partner for its co-investment programme. In December, Shiprocket raised ₹1,380 crore from Zomato as part of its Series E funding round.In July 2021, it had raised ₹305 crore in a Series D round co-led by PayPal Ventures, Info Edge Ventures and Bertelsmann. In February 2021, it had raised ₹200 crore in an extended Series C round co-led by Tribe Capital and new investor March Capital.
Shiprocket’s net sales more than doubled to ₹161 crore in FY20 from ₹58.8 crore in FY19, according to VCCEdge
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