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Shiprocket raises $27mn, management reveals future plans

Updated : February 19, 2021 05:48 PM IST

Delhi-based e-commerce shipping platform and a D2C shipping enabler Shiprocket has raised $27 million in a Series-C funding. With this, the company’s total funding stands at $53 million.

The round was co-led by Tribe Capital, a Silicon Valley-based venture capital firm, along with Santa Monica-based venture growth firm March Capital. Rahul Mehta of DST Global also participated in the round along with existing investor, Bertelsmann India Investments.

The startup plans on using these funds to fuel the product development roadmap and hiring talent across product, data, and engineering functions. The funds will also focus on the company's new strategic initiatives, including expanding globally.

To discuss about the funds raised and the road ahead for the company, CNBC-TV18 spoke to Saahil Goel, Co-founder & CEO of Shiprocket.

Also, B2B and SAAS focused venture capital firm, Avataar Capital Management has raised an additional opportunities fund of $100 million. Mohan Kumar, Managing Partner of Avataar Capital Management details more about the fund.

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