Shipping platform Shiprocket acquired B2B logistics platform, Rocketbox for an undisclosed amount. As part of the deal, Rocketbox founders will be joining the Shiprocket leadership team and ‘Rocketbox’ will be rebranded as ‘Rocketbox by Shiprocket’.
The acquisition will help Shiprocket lower shipping costs and smoothen end-to-end customer experience on its platform. The move will also enhance Shiprocket’s existing infrastructure and product stack for D2C customers and SMEs.
Shiprocket CEO and cofounder Saahil Goel, said, “Rocketbox has a cutting-edge platform which extends Shiprocket’s capabilities to B2B use-cases as well as bulk movement using cargo carriers. The platform brings along a host of features which will help retailers save time, cost, and effort, allowing a smooth end-to-end logistics experience.”
Shiprocket was founded in 2017 by Saahil Goel, Gautam Kapoor and Vishesh Khurana. The startup says that it generates a GMV of over $1.5 billion annually and is growing three times year-on-year. Shiprocket claims that it delivers to 66 million consumers annually across the globe.
Meanwhile, Rocketbox was launched in 2015 by a clutch of entrepreneurs including Hasan Kumar A, Pooja Bhatt, Raghav Singhania, Ramana Venkat and Vinod Kumar Reddy Gandra. The startup has over the years diversified and rolled out a slew of services including an application suite catering to the logistics sector.
Raghav Singhania, cofounder and CEO of Rocketbox, said, “We are excited to be partnering with Shiprocket to continue to build our product and service offering at Rocketbox. When we met Saahil and Gautam we immediately realized that it was the right fit for us as a team as we both have similar objectives of making the fulfilment experience of SMEs seamless with an inherent objective of disrupting the status quo.”