Shiprocket is an Indian logistics technology company that has achieved remarkable success by revolutionizing the e-commerce shipping landscape. Founded in 2017, Shiprocket provides end-to-end logistics solutions, making shipping affordable, efficient, and reliable for small and medium-sized businesses. With its user-friendly platform, integrated courier partners, and automated processes, Shiprocket has empowered thousands of e-commerce entrepreneurs to scale their businesses and reach customers across India and globally. Their success story is a testament to the transformative power of technology in simplifying logistics and fueling the growth of online businesses. More Startup Success Stories
Shiprocket - Company Highlights
| Company Name | Shiprocket |
|---|---|
| Headquarters | New Delhi, India |
| Sector | Ecommerce, Logistics, Supply Chain Management |
| Founder | Gautam Kapoor, Saahil Goel, Vishesh Khurana and Akshay Ghulati |
| Founded | 2017 |
| Total Funding | $354.1 million (June 2022) |
| Revenue | $47.96 million (Rs 358.01 crore in FY21) |
| Valuation | $930 million (2022) |
| Parent Organization | BigFoot Retail solution |
| Website | shiprocket.in |
Table of Contents
Shiprocket – About & How It Works?
Shiprocket – Vision & Mission
Shiprocket – Founders & Team
Shiprocket – How It All Started?
Shiprocket – Name, Tagline and Logo
Shiprocket – Services & Products
Shiprocket – Business & Revenue Model
Shiprocket – Marketing
Shiprocket – Launching
Shiprocket – Growth and Revenue
Shiprocket – Challenges
Shiprocket – Funding and Investors
Shiprocket – Investments
Shiprocket – Acquisitions
Shiprocket – Advisors and Mentors
Shiprocket – Awards & Recognitions
Shiprocket – Competitors
Shiprocket – Future Plans
Shiprocket - About & How It Works?
Shiprocket: Empowering MSMEs with Affordable Logistic Solutions for Global Online Selling
Shiprocket is a leading tech-enabled logistic platform dedicated to supporting MSMEs in establishing a robust online presence and expanding their sales reach worldwide. Our platform offers a range of affordable plans designed specifically for small businesses, enabling them to sell their products anywhere they desire. In addition to our logistic services, Shiprocket provides a comprehensive suite of benefits, including warehousing, packaging, and other related solutions. Our platform also integrates seamlessly with various tools and systems, empowering merchants and sellers to efficiently manage their deliveries.
With a vast network spanning 220 countries and serving over 27,000 pin codes across India, Shiprocket ensures that businesses can reach customers globally at the most competitive rates. We leverage our own in-house software, developed by our expert teams, to ensure the smooth flow of day-to-day operations within the organization.
As a trusted partner, Shiprocket serves over 85,000 active Direct Consumer sellers, offering AI-powered post-order services such as smart packaging, eCommerce fulfillment, warehousing solutions, hyperlocal deliveries, shipping aggregation, free website development, and much more. Our goal is to help sellers grow their businesses by providing extensive pin-code serviceability through our reliable network of 17+ courier partners, ensuring efficient and timely last-mile deliveries. Today, Shiprocket powers 4-5% of all eCommerce in India, making us a significant player in the industry. With our easy Shiprocket API integration, developers can seamlessly incorporate our shipping functionalities into their businesses, making shipping processes convenient and hassle-free.
Shiprocket offers a free seller login, where users can simply create their Shiprocket account and log in using their Google/Facebook account or phone number, along with other required details.
Shiprocket offers four different plans, each with its own rates and features. Here are the plans and their corresponding rates:
- LITE: Shiprocket LITE is a free shipping plan with no minimum signup period.
- BASIC: The Basic plan costs Rs 1000 per month, with a minimum signup period of 3 months.
- ADVANCED: The Advanced plan costs Rs 2000 per month, with a minimum signup period of 3 months.
- PRO: The Pro plan costs Rs 3000 per month, with a minimum signup period of 3 months.
Market Details: According to recent reports, the global logistics industry has surpassed a market value of over $50 billion, highlighting its significant growth and potential.
Shiprocket - Vision & Mission
Shiprocket: Empowering Small and Medium Merchants in the eCommerce Space
Shiprocket envisions itself as a prominent enabler of direct-to-consumer (D2C) businesses, empowering small and medium-sized merchants to flourish in the eCommerce landscape. With a strong commitment to supporting the growth of Indian SMBs, Shiprocket aims to assist these businesses in establishing a robust online presence and effectively competing with larger players like Amazon.
As part of their future plans, Shiprocket aims to become India’s leading post-order experience platform, offering a comprehensive range of tech-enabled services related to logistics and order fulfillment. The company has already introduced a series of AI-powered solutions, including Shiprocket Packaging (smart packaging), Shiprocket Fulfillment (eCommerce fulfillment and warehousing), Shiprocket Saral (hyperlocal delivery), Shiprocket Social (full-stack website development), and more.
According to Saahil Goel, Co-Founder of Shiprocket, the company’s core belief is centered around serving the needs of small and medium-sized sellers in India. Shiprocket is dedicated to helping these businesses transition to the online marketplace and effectively compete with larger counterparts. Since its inception, Shiprocket has prioritized building and innovating for its sellers, focusing on their long-term success. Their vision is to evolve into India’s foremost post-order experience platform, offering a comprehensive range of fulfillment services, such as top-notch packaging, eCommerce fulfillment and warehousing, hyperlocal delivery, website development, checkout enhancement, and other value-added solutions.
Shiprocket - Founders & Team
Shiprocket Co-Founders: Visionaries Driving Success
Saahil Goel: CEO & Co-Founder
Saahil Goel, an MBA and MS graduate from the University of Pittsburgh (USA), brings a wealth of expertise to Shiprocket. With a background as a Business Analyst at Max Life Insurance and a Technology and Process Consultant at SDLC Partners, Saahil’s passion lies in product development, growth hacking, and technology. He spearheads the company’s product strategy, user experience, and growth initiatives while actively managing the overall operations.
Gautam Kapoor: COO & Co-Founder
Gautam Kapoor, holding a BBA degree from Western International University (USA), comes from a family business background in industrial products import and distribution. He has worked closely with renowned German engineering brands such as Bosch and Sick. As the co-founder, Gautam plays a crucial role in logistics execution, operations, and overall strategic direction. He contributes to defining the company’s culture and vision.
Vishesh Khurana: Head of Growth & Co-Founder
Vishesh Khurana, a BBA graduate specializing in Marketing from Amity Business School, brings valuable expertise in seller acquisition to Shiprocket. With his prior experience as the COO and Founder of Mobiz Infotech Pvt. Ltd., Vishesh is passionate about empowering small and mid-sized merchants. He actively oversees the onboarding and management of sellers, providing them with a go-to platform for launching and growing their online businesses.
Akshay Ghulati: Co-Founder
Akshay Ghulati, an Economics graduate from Wharton Business School and MBA from Harvard Business School, has a remarkable background in eCommerce and technology. With experience working at companies like Amazon, AT Kearney, and Parthenon Group, Akshay leads Shiprocket’s strategy, marketing, and customer success teams. He is dedicated to executing the brand’s vision of making Shiprocket India’s leading fulfillment technology platform for SMEs.
Tanmay Kumar: CFO
Shiprocket recently welcomed Tanmay Kumar as the CFO, effective January 4, 2022. With over 22 years of experience in the FMCG and retail domains, Tanmay oversees Investor Relations, Fundraising, and M&A activities. He leads the finance, legal, and secretarial teams at Shiprocket, contributing to the company’s financial stability and growth.
Current Company Size and Work Culture
Shiprocket boasts a talented team of over 400 professionals working across various departments globally. The company has embraced a remote work culture, ensuring a healthy work-life balance for its employees. Remote teams are encouraged to allocate sufficient time to personal lives while staying connected through technology. To foster team spirit and engagement, Shiprocket’s Human Resources department organizes virtual sessions, including group meditation, talent showcases, Zumba, comedy, home fitness sessions, and more.
Hiring Fundamentals
When recruiting new team members, Shiprocket places great importance on cultural fit within the organization. In addition to assessing skills, education, and experience, the company evaluates candidates’ potential for growth, alignment with the company’s vision, and their willingness to contribute to Shiprocket’s success.
Shiprocket - How It All Started?
Shiprocket’s journey began when Saahil Goel, one of the co-founders, identified a significant gap in the Indian market that hindered the growth of MSMEs (Micro, Small, and Medium Enterprises). Saahil’s vision was to develop a technology solution that would empower small businesses to establish an online presence without facing logistical challenges. Initially, he started working on Shiprocket as a part-time venture from the USA, collaborating with his friend Gautam in India. However, Saahil soon realized that to achieve tangible results, he needed to dedicate himself fully to the project and relocated to India.
Here’s the startup story of Shiprocket, as described by Saahil Goel:
“Even during my first job as a trainee at Max Life Insurance, I was driven by a hunger to learn and had already decided that my ultimate career path would lead me to entrepreneurship. This single-mindedness shaped my professional life in a different way compared to my peers. I focused more on strategy, business models, and understanding the breadth of the organizations I worked with. I provided candid feedback to my teams and superiors, took ownership, and delivered projects faster, always eager to move on to the next one. I stayed away from office politics and constantly reminded myself of the things I wouldn’t do when I built my own company. This not only helped me excel in the organizations I worked for but also prepared me for my future as an entrepreneur. In a way, my entire ‘pre-startup’ career was an eight-year preparation for launching my own venture.”
For the first six months, Gautam set up the office in New Delhi while I woke up at 4:00 am (due to the time difference) to collaborate with him on our startup idea. We worked together for four hours in the morning and continued in the evenings. Initially, progress was slow because I was working remotely from the US while Gautam was in India. We had been exploring various ideas when one day, it struck us that India had millions of small and medium-sized sellers, yet there was a lack of technology tailored for them. That’s when we decided to build a technology platform that could facilitate their easy transition to the online space. It was as simple as that! We didn’t reach out to incubators or conduct extensive research because we firmly believed that eCommerce would eventually thrive in India.
Gautam was in the process of persuading his parents to allow him to leave the family business and embark on his own venture. In the first few months, we drafted a comprehensive 200-page document outlining the business model, brand name, logo, and more. We also set up an office space to create the impression that our venture was real. We interviewed a candidate, selected them, but they ultimately rejected us. That incident was particularly demotivating, but it made me realize that I couldn’t continue doing Shiprocket part-time. I had to fully commit to our startup idea. Finally, in January, when I moved back to India, we began recruiting our first engineers.
In essence, Shiprocket started as a bootstrap company, generating revenue from service offerings during the initial year to provide salaries for our engineers and develop the product. Eventually, we secured angel funding a couple of years into the startup journey.
Shiprocket - Name, Tagline and Logo
Shiprocket visions to move their merchant’s business in the up direction with a high velocity, just like a rocket do. Hence, the name Shiprocket came to fruition.
Shiprocket - Services & Products
Shiprocket offers a range of services and products to facilitate efficient and seamless eCommerce logistics for businesses. Here are some key offerings:
Doorstep Delivery: Shiprocket ensures timely and reliable doorstep delivery for customers. It covers 27,000+ pin codes across India and 220 countries globally.
Shiprocket Social: This eCommerce logistics solution comes with a pre-integrated logistics dashboard. It enables merchants to ship their products across various locations. The platform offers integration with 17+ courier partners such as BlueDart, FedEx, DHL, Delhivery, and more. Shiprocket’s AI-powered tool, CORE (Courier Recommendation Engine), analyzes data to suggest the most suitable courier partner based on delivery time, cost, and ratings. The platform also provides features like real-time order tracking, early COD (Cash on Delivery), easy returns, SMS and email notifications, non-delivery updates, shipping rate calculator, and automatic inventory sync.
Rate Calculator: Shiprocket offers a rate calculator tool that allows businesses and individuals to calculate shipping rates based on product dimensions and area codes.
Shiprocket Social: As a full-stack eCommerce logistics platform, Shiprocket enables sellers to establish their online presence by creating a store and listing products free of cost. Shiprocket Social facilitates social selling by providing features such as a Facebook shop, payment gateways, bulk product upload, personalized coupon codes, and a sales tracking dashboard.
Shiprocket Packaging: Shiprocket provides high-quality packaging solutions to enhance the delivery experience for customers. These cost-effective packaging options are made with superior materials and help reduce weight-related discrepancies. The platform also offers automated inventory tracking for sellers.
Shiprocket Fulfillment: Shiprocket Fulfillment is an eCommerce fulfillment and warehousing solution. It helps sellers manage sudden spikes in order volumes during busy periods. With end-to-end automation, it minimizes manual errors and reduces weight-related issues and return orders. Shiprocket Fulfillment enables faster delivery to customers at a nominal price, without any lock-in period.
Shiprocket Saral: Shiprocket Saral is a hyperlocal delivery aggregator offering intra-city speedy delivery. It partners with expert hyperlocal delivery providers like Dunzo, Shadowfax, and Wefast within a 50 km radius. Shiprocket Saral offers cost-effective services, multiple payment modes for customers, and order tracking for transparency.
Overall, Shiprocket aims to provide a comprehensive suite of services and products to streamline eCommerce logistics and help businesses deliver a superior customer experience.
Shiprocket - Business & Revenue Model
Shiprocket operates on an asset-light model as a logistics software service provider. Its business and revenue model can be summarized as follows:
Logistics Aggregation Platform: Shiprocket connects e-commerce sellers with courier service providers through its automated interface. It helps sellers choose the right courier service provider for their shipments. Shiprocket does not directly handle the pickup and delivery of shipments but facilitates the connection between sellers and courier service providers.
Revenue from Shipments: Shiprocket generates revenue from every shipment that is enabled and moved through its platform. Sellers pay fees for utilizing Shiprocket’s logistics services for their shipments.
Subscription Options: Shiprocket offers fee-based subscription options for medium to large sellers. These subscriptions provide benefits such as negotiated shipping rates, integration with multiple e-commerce channels, and dedicated support.
Integration with E-commerce Platforms: Shiprocket provides integration facilities with popular e-commerce platforms like Amazon, eBay, Shopify, and others. This integration allows sellers to seamlessly manage their online stores and streamline logistics operations.
Value-Added Services: Shiprocket offers additional fee-based value-added services to enhance the logistics experience for sellers. These services include:
- Shiprocket Fulfillment: Warehousing and storage facilities to help sellers deliver shipments faster.
- Early COD: A paid service that allows sellers to receive cash remittance as early as two days from the delivery date of the order.
- Packaging Store: Shiprocket operates an online store where it sells packaging materials to sellers.
Other Revenue Streams: Shiprocket also earns revenue from various value-added technology services such as warehousing and fulfillment, packaging, fintech, and other ancillary services that sellers can avail.
Shiprocket’s revenue primarily comes from the fees charged for shipments and subscription licenses. The company’s growth is evident in its metrics, including shipments, revenue, and monthly active merchants, which have shown significant year-on-year growth. Shiprocket is known for its competitive shipping rates, with domestic shipping starting as low as INR 22 for 500 grams.
Shiprocket - Marketing
Shiprocket’s marketing strategy focuses on adding value to businesses, particularly Direct to Consumer (D2C) brands, by addressing their pain points and providing solutions. Rather than solely promoting their product, they aim to understand the needs and challenges of their target market and tailor their marketing campaigns accordingly.
To effectively reach their target audience at a regional level, Shiprocket invests efforts into creating vernacular content. By using local languages and catering to the specific preferences and cultural nuances of different regions, they aim to connect with their audience on a deeper level. This approach helps them facilitate business growth and expansion for their customers.
By addressing pain points, offering solutions, and creating content that resonates with their audience, Shiprocket aims to enhance customer acquisition and retention. Their marketing efforts are focused on providing value and building long-term relationships with businesses of all sizes, particularly D2C brands.
Shiprocket - Launching
Saahil Goel, the co-founder of Shiprocket, faced several challenges during the early stages of launching the company. He described his journey as a mix of demotivating experiences and moments of hope and success. Here are the key points from his description:
Demotivating recruitment experience: When Saahil initially moved back to India from the USA, he had a discouraging experience with recruitment. This realization made him commit to working on Shiprocket full-time.
Bootstrapping the company: Saahil and his co-founders bootstrapped the company, meaning they started and operated the business using their own personal finances without external funding. They spent time connecting with friends and contacts who could help them find engineers to build the product.
Custom work and initial websites: In the early stages, Shiprocket provided custom work and Saahil himself built the initial websites. This generated some revenue, which helped cover expenses like rent, salaries, and utilities. However, they realized that this approach was not scalable and they needed to fund the development of their actual product.
Developing a localized product: After a year, Shiprocket had a functional product that included a shopping cart. They saw some success and celebrated having their first 100 merchants on the platform. This milestone gave them hope and motivation to continue working on the company’s growth.
Saahil’s journey highlights the challenges and determination involved in building Shiprocket. Through perseverance and a focus on developing a valuable product, they were able to overcome initial obstacles and achieve early successes.
Shiprocket - Growth and Revenue
Shiprocket has experienced significant growth and achieved several milestones in its journey. Here are the notable growth and revenue-related highlights:
Growth milestones:
- Shiprocket is recognized as India’s leading eCommerce shipping solution.
- It claims to have turned profitable within 24 months, making it one of the fastest logistics brands to achieve profitability.
- The company has gained the trust of over 1 lakh brands and entrepreneurs.
- Shiprocket serves over 1 lakh satisfied sellers.
- It manages to deliver over 2 lakh shipments daily.
- Shiprocket covers more than 29,000 pin codes in India.
- The company provides its services to over 220 countries worldwide.
- Shiprocket has established partnerships with 17+ courier partners, including renowned brands like Bluedart, Xpressbees, Delhivery, DTDC, Shadowfax, Ecom Express, and more.
- Shiprocket has experienced 3X year-on-year growth.
- Notable clients of Shiprocket include Dr. Vaidya’s, MamaEarth, Gillette, Boat, mCaffeine, Nappa Dori, Relaxo, Proline, The Beer Cafe, Bira, Bodycare, Da Milano, Cureveda, and others.
- As of February 4, 2022, Shiprocket was valued at $930 million.
Financials:
- Shiprocket’s operating revenue grew by 122% from Rs 161.19 crore in FY20 to Rs 358.01 crore in FY21.
- The revenue breakdown shows that the sale of services accounted for INR 357.65 crore in FY21, while domestic sale trade goods contributed INR 0.36 crore.
- The expenses of the company also increased by 126% from Rs 155.14 crore in FY20 to Rs 350.66 crore in FY21.
- The major expense verticals include the cost of material consumed (INR 294.38 crore), employee benefits (INR 42.5 crore), legal and professional charges (INR 2.62 crore), and others (INR 11.16 crore).
- Shiprocket’s EBITDA margin decreased from 5.36% in FY20 to 3.22% in FY21.
- The company experienced a significant increase in cash inflow, which rose by 274.6% from Rs 10.74 crore to Rs 40.23 crore during FY21.
- Shiprocket’s profit after tax increased to Rs 12.47 crore in FY21 from Rs 10.07 crore in FY20.
Overall, Shiprocket has demonstrated impressive growth, profitability, and customer trust in its logistics and shipping solutions, leading to its position as a prominent player in the Indian market.
Shiprocket - Challenges
Shiprocket has faced several challenges throughout its journey, including the following:
Transition to remote work during the pandemic: Shiprocket had a strong office-based work culture and operated out of a single office in Delhi. When the pandemic hit and remote work became necessary, the company had to adapt quickly to enable its employees to work from home. This transition presented challenges in maintaining productivity, communication, and onboarding new hires without physical interaction.
Hiring and onboarding new employees: Shiprocket almost doubled its team strength during the pandemic, which posed challenges in hiring and onboarding new employees without face-to-face interactions. The lack of physical workspace made it difficult for new hires to understand the company culture and build relationships with their colleagues.
Understanding the Indian market: Shiprocket initially launched its shopping cart product targeting the MSME market in India, based on trends observed in the West. However, they realized that the Indian market had different demands and prioritized convenience over website features. The company had to adapt its offerings and marketing techniques to cater to the specific needs and preferences of the Indian market.
Experimentation and finding the right direction: Shiprocket went through a period of experimentation with different features and marketing strategies to understand the needs and preferences of its target audience. It took time and effort to identify the most effective direction to take the company forward and provide value to its customers.
Despite these challenges, Shiprocket has managed to navigate and overcome them by adapting to changing circumstances, hiring talented individuals, and refining its products and services based on market feedback.
Shiprocket - Funding and Investors
Shiprocket has received a total of $354.1 mn in funding over 9 rounds that it has witnessed. The last Shiprocket funding round came from Zomato, Lightrock, and Temsek Holdings.
| Funding Date | Name of the Transaction | Money Raised | Lead Investors |
|---|---|---|---|
| December 10, 2021 | Series E | $185 mn | Zomato, Temasek, Lightrock |
| November 10, 2021 | Corporate Round | $75 mn | Zomato |
| July 7, 2021 | Series D | $41.53 mn | Bertelsmann India Investments, Info Edge ventures, PayPal Ventures |
| February 18, 2021 | Series C | $27 mn | March Tribe, Tribe Capital |
| May 11, 2020 | Series C | $13 mn | Tribe Capital |
| January 1, 2018 | Series B | $4.1 mn | Bertelsmann India Investments |
| January 1, 2016 | Series B | $8 mn | Bertelsmann India Investments |
| October 1, 2014 | Series A | $1 mn | Nirvana Venture Advisors |
| July 1, 2013 | Seed Round | $250K | 5ideas.in |
Shiprocket India currently has around 10 lead investors including Lightrock, Zomato, Moore, and more.
Shiprocket - Investments
Shiprocket has made 3 prominent investments to date, which are in Bold Care, Logibricks, and Evenflow. Here’s a look at them:
| Date | Company Name | Funding Round | Deal Value | Lead Investor |
|---|---|---|---|---|
| February 15, 2022 | Bold Care | Seed Round | – | – |
| February 4, 2022 | Logibricks Technologies | Seed Round | $1.5 mn | Yes |
| December 14, 2021 | Evenflow | Seed Round | $5 mn | – |
Shiprocket - Acquisitions
Based on the information provided, Shiprocket has made the following acquisitions:
Omuni: Shiprocket acquired the omnichannel technology business of Arvind in July 2022 for a combination of cash and stock worth Rs 200 crore. This acquisition is expected to enhance delivery efficiency and reduce timelines by leveraging nearest warehouses and stores.
Pickrr Technologies: Shiprocket acquired an 80% stake in Pickrr Technologies in June 2022 for a deal worth $200 million. Shiprocket plans to fully acquire Pickrr and absorb its team, while the Pickrr founders will receive undisclosed stakes in Shiprocket.
Glaucus Supply Chain Solutions: Shiprocket acquired Glaucus Supply Chain Solutions in February 2022. No specific details about the deal value are provided.
Rocketbox: Shiprocket acquired Rocketbox in January 2022. No specific details about the deal value are provided.
Wigzo Technologies: Shiprocket acquired Wigzo Technologies in January 2022. No specific details about the deal value are provided.
These acquisitions have helped Shiprocket expand its capabilities, strengthen its market position, and provide enhanced services to its customers.
| Company Name | Date | Deal Value |
|---|---|---|
| Omuni | July 19, 2022 | $25.03 mn |
| Pickrr Technologies | June 15, 2022 | $200 mn |
| Glaucus Supply Chain Solutions | February 14, 2022 | – |
| Rocketbox | January 14, 2022 | – |
| Wigzo Technologies | January 7, 2022 | – |
Shiprocket - Advisors and Mentors
Shiprocket has received mentoring and support from key investors throughout its startup journey. Some of the notable mentors associated with Shiprocket are:
Pankaj Makkar: Pankaj Makkar is associated with Bertelsmann India Investments, a strategic investment arm of the global media company Bertelsmann. He has provided guidance and mentorship to Shiprocket.
Rajan Mehra: Rajan Mehra is associated with Nirvana Ventures, an early-stage venture capital firm. He has played a mentoring role in Shiprocket’s growth and development.
Arjun Sethi: Arjun Sethi is associated with Tribe Capital, a venture capital firm based in Silicon Valley. He has provided mentorship and support to Shiprocket.
Teruhide Sato: Teruhide Sato is associated with Beenext, a venture capital firm focusing on early-stage investments in Asia. He has been a mentor and supporter of Shiprocket.
These mentors have contributed their expertise, experience, and network to guide Shiprocket in its journey, helping the company navigate challenges and seize opportunities for growth.
Shiprocket - Awards & Recognitions
Shiprocket has received several awards and recognitions for its innovative solutions and contributions to the logistics industry. Here are some notable accolades:
Deloitte Technology Fast 50 India: Shiprocket was ranked in the Deloitte Technology Fast 50 India list, which recognizes the fastest-growing technology companies in India.
LinkedIn Top Startups India: Shiprocket was featured in the LinkedIn Top Startups India list, which showcases the most sought-after startups in the country.
Entrepreneur India’s Most Promising Brands: Shiprocket was recognized as one of Entrepreneur India’s Most Promising Brands, acknowledging its growth and potential in the e-commerce logistics sector.
BW Businessworld 40 Under 40: Saahil Goel, the co-founder of Shiprocket, was listed in the BW Businessworld 40 Under 40, a prestigious ranking that honors young leaders driving innovation and growth in their respective fields.
National Entrepreneurship Awards: Shiprocket received the National Entrepreneurship Award in the Logistics and Supply Chain category. These awards are presented by the Ministry of Skill Development and Entrepreneurship, Government of India, to recognize outstanding entrepreneurs and their contributions to the economy.
These awards and recognitions highlight Shiprocket’s success, growth, and impact in the logistics and e-commerce industry in India.
Shiprocket - Competitors
Shiprocket operates in a highly competitive market and faces competition from several players in the logistics and shipping industry. Some of its key competitors include:
Delhivery: Delhivery is one of the largest logistics companies in India, offering a wide range of services including last-mile delivery, warehousing, and order fulfillment. They cater to both e-commerce and traditional businesses.
FedEx: FedEx is a global logistics and courier services company that provides domestic and international shipping solutions. They have a strong presence in the e-commerce sector and offer a range of shipping options for businesses of all sizes.
DHL: DHL is another global logistics company that offers a comprehensive suite of shipping services. They have a strong network and provide international shipping solutions along with customized logistics solutions for e-commerce businesses.
Blue Dart: Blue Dart is a leading logistics service provider in South Asia, specializing in express delivery and integrated supply chain solutions. They have a strong presence in India and cater to the needs of various industries, including e-commerce.
ShipKaro: ShipKaro is an emerging player in the Indian logistics market that focuses on providing e-commerce shipping solutions. They offer features like multi-channel integrations, automated order processing, and cost-effective shipping options.
These are just a few examples of the competitors in the logistics and shipping space that Shiprocket faces. The market is dynamic and constantly evolving, with new players entering the scene regularly.
Shiprocket - Others Competitors
Indeed, ClickPost, ShipKaro, and Shyplite are some of the competitors in the logistics and shipping space that operate in a similar domain as Shiprocket. These companies provide services and solutions to streamline the e-commerce shipping process for businesses. Here’s a brief overview of each competitor:
ClickPost: ClickPost is a logistics optimization platform that offers end-to-end shipping solutions for e-commerce businesses. It helps streamline order management, courier selection, tracking, and returns management to improve the overall shipping experience.
ShipKaro: ShipKaro is a logistics aggregator that connects e-commerce sellers with multiple courier partners. It provides features like automated order processing, real-time tracking, and customized shipping rates to optimize the shipping process for businesses.
Shyplite: Shyplite is a logistics platform that offers shipping solutions for e-commerce sellers. It integrates with multiple courier partners to provide discounted shipping rates, automated order processing, and shipment tracking. Shyplite also offers features like inventory management and returns management.
These companies, along with Shiprocket, compete in the market by providing services and technology solutions to simplify and streamline the shipping and logistics operations for e-commerce businesses. Each company may have its unique features, pricing models, and target customer segments, catering to the diverse needs of e-commerce sellers.
Shiprocket - Future Plans
Shiprocket’s future plans include expanding its services in various areas to become a comprehensive solution for e-commerce fulfillment. They plan to focus on providing hyperlocal delivery options, improving customer care services, and offering lending solutions to their merchants. They aim to be a one-stop solution for e-commerce fulfillment needs.
In addition, Shiprocket is planning to expand internationally in 2022, with a particular focus on regional expansion. They are hiring dedicated teams for this purpose and expect international business to be a significant contributor to their growth in the coming years. Shiprocket aims to reach 250,000 sellers within the next 2-3 years, building on their existing base of 85,000+ sellers.
CEO and Co-founder Saahil Goel mentioned the company’s plan to launch hyperlocal delivery options, ensuring low turnaround times and best-in-class service level agreements (SLAs). Shiprocket has already taken steps towards expanding its footprint in new geographies, with the launch of services in the Kingdom of Saudi Arabia in November 2021.
Shiprocket is also focusing on strategic initiatives such as developing hyperlocal delivery services, expanding courier partnerships, building fulfillment networks, and pursuing global expansion, starting from West Asia. They have secured funding for these initiatives to support their future growth.
Overall, Shiprocket aims to leverage technology, AI, and data to provide cost-efficient and seamless shipping solutions for e-commerce sellers, helping them expand their businesses and remain profitable.
FAQs
Q: What is Shiprocket?
A: Shiprocket is a logistics software service provider that offers an aggregation platform for e-commerce sellers to connect with courier service providers. It provides automated solutions for order management, courier selection, tracking, and more.
Q: How does Shiprocket make money?
A: Shiprocket earns revenue from every shipment that goes through its platform. It also offers fee-based subscription options for medium-large sellers, providing them with negotiated shipping rates and additional services.
Q: What are some value-added services offered by Shiprocket?
A: Shiprocket offers services such as warehousing and fulfillment through Shiprocket Fulfillment, early COD (cash on delivery) services, and an online packaging store. It also provides integration with popular e-commerce platforms and offers other fee-based value-added services.
Q: Who are Shiprocket’s competitors?
A: Some of Shiprocket’s competitors in the logistics and shipping space include ClickPost, ShipKaro, and Shyplite.
Q: What are Shiprocket’s future plans?
A: Shiprocket plans to expand its services in hyperlocal deliveries, customer care, and lending. It aims to become a one-stop solution for e-commerce fulfillment. The company also plans to expand internationally, starting with regional expansion, and expects international business to contribute significantly to its growth.
