The Captains of This Ship: Meet the Minds Behind Shiprocket

Shiprocket was co-founded by Saahil Goel, Gautam Kapoor, Vishesh Khurana, and Akshay Ghulati in 2017. Saahil Goel, the CEO, holds a Bachelor of Science in Computer Science from Drexel University and an MBA and MS from the University of Pittsburgh.Saahil began his career as a Business Analyst at Max Life Insurance, followed by roles as a Technology and Process Consultant at SDLC Partners and as a founding team member of Kasper Consulting. His passion for technology and product innovation laid the foundation for Shiprocket’s vision.  His entrepreneurial journey started with the co-founding of KartRocket, a platform aimed at helping small businesses establish an online presence. (Saahil Goel)

Gautam Kapoor, the Chief Operating Officer, received his BBA in Business from Western International University in the USA and Delhi University. He was previously involved in his family business, focusing on industrial products import and distribution, collaborating with renowned German engineering brands such as Bosch and Sick. He gained experience in automation and business development as the Business Head at JKE Automation. (Gautam Kapoor)

Vishesh Khurana, another co-founder, earned his BBA with a specialization in Marketing from Amity Business School. Before Shiprocket, he served as the Chief Operating Officer and Founder at Mobiz Infotech Pvt. Ltd. Vishesh also co-founded Tribe India and has been recognized for his entrepreneurial excellence, including mentions in Economic Times’ “40 under 40” and Entrepreneur India’s “35 under 35” lists.  (Vishesh Khurana)

Akshay Ghulati holds a Bachelor’s degree in Economics, Finance, and Management from Wharton and an MBA from Harvard Business School. His expertise in operations and supply chain management has been instrumental in their expansion.  Akshay has extensive experience, including senior roles at Amazon UK and founding Diviniti Investments. His international experience in e-commerce logistics helped launch ShiprocketX, the cross-border arm promoting Indian products globally. (Akshay Ghulati)

The Founding Story

The inception of Shiprocket traces back to 2012 when Saahil Goel and Gautam Kapoor founded BigFoot Retail Solutions Pvt. Ltd., aiming to address the challenges faced by small and medium-sized businesses (SMBs) in India’s e-commerce sector. They initially launched KartRocket, a platform to help SMBs establish an online presence. However, they soon realized that logistics was a significant pain point for these businesses. This insight led to the creation of Shiprocket in 2017, focusing on providing automated shipping solutions tailored for small sellers.

The Cargo Boom: Riding the Logistics Tide in India

The logistics services market in India has experienced significant growth, driven by the expansion of e-commerce and the need for efficient supply chain solutions. In 2023, the market was valued at approximately USD 282.3 billion. Projections indicate that it will reach USD 557.4 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 7.85% during the period from 2024 to 2032. (Imarc Group)

This growth is fueled by several factors, including the rapid rise of online retail, favorable government policies, and technological advancements. The e-commerce sector’s expansion has increased demand for efficient last-mile delivery services, prompting logistics providers to enhance their capabilities. Government initiatives like the Goods and Services Tax (GST) have streamlined tax structures, reducing inter-state barriers and facilitating smoother movement of goods.

Technological integration plays a pivotal role in the market’s evolution. The adoption of real-time tracking, predictive analytics, and automation has optimized supply chain operations, improving efficiency and customer satisfaction. Additionally, the emphasis on eco-friendly logistics solutions and the rise of trade agreements have contributed to the sector’s growth.

Despite these advancements, challenges persist. The logistics cost in India remains high, accounting for around 14% of the GDP, compared to the global average of 8-10%. This disparity is attributed to factors such as infrastructure bottlenecks and an over-reliance on road transport. (The CEO)

To address these issues, the government is investing in infrastructure development, including the construction of dedicated freight corridors and multi-modal logistics parks. These initiatives aim to enhance connectivity, reduce transit times, and lower logistics costs, thereby boosting the sector’s efficiency and competitiveness.

Setting Sail with a Vision: The Mission to Simplify Shipping

Mission and Vision

The company’s mission is to make e-commerce simple, accessible, and trustworthy by enabling sellers with AI-driven technology and dependable services encompassing conversion, order fulfillment, shipping, buyer communication, returns management, and more. The vision of Shiprocket is to be recognized as a leading direct-to-consumer (D2C) enabler, helping small and medium merchants grow their business in the e-commerce space. The future plan is to become India’s leading post-order experience platform, encompassing a gamut of tech-enabled services.

Problems They Solve

Shiprocket addresses several challenges faced by e-commerce businesses:

• Complex Logistics Management: Managing multiple courier partners and shipping options can be overwhelming. Shiprocket consolidates various logistics services into a single platform, allowing businesses to choose the most suitable shipping solutions.
• High Shipping Costs: For small and medium-sized enterprises (SMEs), shipping expenses can be prohibitive. Shiprocket negotiates competitive rates with courier partners, enabling businesses to access cost-effective shipping options.
• Inefficient Order Fulfillment: Delays and errors in order processing can lead to customer dissatisfaction. Shiprocket offers automated order management and fulfillment services, streamlining operations and reducing errors.
• Limited Tracking and Transparency: Customers expect real-time updates on their orders. Shiprocket provides end-to-end tracking and communication tools, enhancing transparency and customer trust.

Business Model

Shiprocket operates on a technology-driven business model that integrates various logistics services into a unified platform. The company partners with multiple courier services, allowing businesses to compare rates and delivery times to select the best option for each shipment. Shiprocket generates revenue through a combination of subscription-based models, transaction fees per shipment, and value-added services such as insurance, loading, unloading and packaging solutions.

All Aboard! Exploring Shiprocket’s Toolbox for Seamless Shipping

Shiprocket offers a comprehensive suite of products and solutions designed to streamline e-commerce logistics for businesses of all sizes. By integrating advanced technology with a vast network of courier partners, Shiprocket provides end-to-end services that enhance operational efficiency and customer satisfaction.

Shiprocket Omuni 

Shiprocket Omuni is an omnichannel retail solution designed to integrate and streamline operations for businesses selling across multiple platforms. Its features include:

• Real-Time Inventory Sync: Prevents stockouts and overselling by providing a centralized view of inventory across platforms like Shopify, Amazon, Flipkart, Myntra, Nykaa, and more.
• Order Routing Rules: Enables businesses to set up dynamic order-routing using an India map interface for better efficiency.
• Automated Reconciliations: Reduces manual effort and errors in financial settlements from major marketplaces.
• Video Recording for Claims: Records both forward and reverse logistics for transparent dispute resolution.
• Integration: Works seamlessly with other Shiprocket products for a cohesive logistics solution. (Omuni)

Shiprocket Fulfillment

This product focuses on end-to-end, tech-enabled order fulfillment for eCommerce businesses:

• Nationwide Network: Operates 35+ fulfillment centers across India, covering over 24,000 PIN codes.
• Optimized Delivery: Provides same-day or next-day delivery options to enhance customer satisfaction.
• Unified Management: Centralized platform for warehouse management, order processing, and performance analytics.
• B2B and B2C Fulfillment: Handles both bulk and individual order fulfillment with accuracy.
• Reduced Costs and Losses: Minimizes shipping costs, return-to-origin (RTO) losses, and discrepancies in operations. (Fullfillment)

Shiprocket Quick 

Shiprocket Quick caters to hyperlocal delivery needs for groceries, pharmaceuticals, and food:

• Cost-Effective Rates: Delivery charges start at ₹10 per km with no surge fees.
• Fast and Reliable: Ensures deliveries in minutes with quick rider allocation even during peak hours.
• 24/7 Availability: Supports around-the-clock delivery services.
• Multiple Partners: Leverages a network of top-rated couriers tailored to local delivery needs. (Quick)

Shiprocket Cargo

This platform is designed for B2B bulk shipping:

• Comprehensive Network: Covers over 24,000 PIN codes and offers services like Full Truck Load (FTL), Partial Truck Load (PTL), and air cargo.
• AI-Powered Courier Selection: Recommends the best courier partners based on shipment requirements.
• Real-Time Tracking: Provides tracking from order placement to delivery.
• Custom API Integrations: Integrates seamlessly with ERP systems like SAP for efficient logistics management. (Cargo)

Shiprocket X 

Shiprocket X simplifies international eCommerce logistics:

• Global Reach: Ships to 220+ countries and territories with delivery options ranging from 4 days to 12 days.
• Transparent Billing: Offers clear pricing with no hidden fees.
• Custom Tracking: Provides branded tracking pages for businesses to promote their brand and engage customers.
• Tax and Compliance: Manages export documentation and compliance seamlessly. (Shiprocket X)

Shiprocket Domestic 

This is the core shipping solution for eCommerce businesses within India:

• Extensive Coverage: Supports over 24,000 PIN codes with multiple courier partners.
• Automated Workflows: Features include automatic documentation, smart non-delivery report (NDR) redressal, and AI-driven courier recommendations.
• Bulk Order Processing: Simplifies logistics by enabling bulk order creation and centralized dashboard management.
• Enhanced Cash Flow: Early COD remittance ensures payments within 2 days.

Shiprocket Sense​

Shiprocket Sense leverages AI and data analytics to minimize Return to Origin (RTO) rates and improve delivery accuracy:

• Risk Intelligence: Identifies fraud risks and reduces costs by 30%.
• Address Standardization: Optimizes delivery performance by refining and validating customer addresses, improving accuracy by 60%.
• Address Validation and Auto-Fill: Cuts logistics overhead by 80% with precise auto-fill and validation for PIN codes and cities.
• Delivery Predictions: Accurately forecasts delivery dates and serviceability, increasing conversions by 50%. (Sense)

Delivery Boost​

This AI-driven solution improves delivery success rates and boosts revenue:

• Buyer Communication: Uses WhatsApp and call-based communication to improve engagement.
• NDR Shipment Management: Reduces RTO rates significantly, with success rates below 1%.
• Revenue Optimization: Tracks additional revenue earned from improved delivery management.

Shiprocket Amplify

A platform designed for influencer marketing, helping brands leverage social media:

• Influencer Selection: Works with 7M+ influencers for tailored campaigns.
• Affordable Pricing: Campaigns start at ₹5,000, offering maximum ROI with costs as low as ₹0.70 per reach.
• Ownership of Content: Provides full rights to created content for extended monetization. (Amplify)

Shiprocket Checkout

A streamlined checkout platform aimed at reducing cart abandonment:

• Lightning-Fast Checkout: Speeds up the process by 70%, with pre-filled customer details.
• Enhanced Conversions: Reduces cart abandonment by 25% and increases conversions by 60%.
• Custom Integration: Adapts to existing platforms and includes advanced analytics for data-driven decisions. (Checkout)

Shiprocket Capital

A financing solution tailored for eCommerce brands:

• Revenue-Based Financing: Offers capital up to ₹30 Crores with no equity dilution and flexible repayment terms.
• Quick Disbursal: Funds are provided within 48 hours of approval.
• Growth-Focused: Aids inventory ramp-up, marketing efforts, and market expansion. (Capital)

Shiprocket Promise

An assurance tool to build trust and improve conversions:

• Delivery Date Display: Shows accurate Expected Delivery Dates (EDD) upfront, improving conversions by 10%.
• Trust Badges: Allows unlimited custom badges to reassure customers.
• Warehouse Optimization: Calculates EDD based on the nearest warehouse, ensuring accuracy. (Promise)

Shiprocket Engage+

A customer engagement platform focused on automation and personalization:

• Marketing Automation: Sends targeted deals and updates via WhatsApp and emails.
• Chatbot Integration: Provides real-time support and personalized shopping experiences.
• Click-to-WhatsApp Ads: Simplifies running ads and converting customers directly through WhatsApp. (Engage 360)

Courier Recommendation Engine (CORE)

Their AI-powered Courier Recommendation Engine analyzes factors such as cost, delivery performance, and service quality to suggest the most appropriate courier partner for each shipment. (CORE)

Shipping Rate Calculator

Shiprocket provides a live rate calculator that estimates shipping costs based on origin and destination pin codes, package weight, and dimensions. This tool helps businesses make informed decisions and manage shipping expenses effectively. (Shipping Rate Calculator)

Label and Manifest Generation

The platform allows users to generate shipping labels and manifests in bulk, complete with necessary details like addresses, contact information, and tracking numbers. This streamlines the shipping process and ensures compliance with courier requirements.

Accolades on Deck: Shiprocket’s Voyage to Recognition

Shiprocket has significantly impacted India’s e-commerce logistics sector by providing efficient and cost-effective shipping solutions to businesses of all sizes. As of 2024, the platform serves over 150,000 active sellers, facilitating the shipment of more than 5 million parcels monthly.

In July 2024, Shiprocket hosted SHIVIR 2024, Bharat’s largest e-commerce conclave, bringing together over 600 brands, 100+ speakers, and more than 2,000 attendees. The event featured over 50 sessions focused on transformative learning, innovation, and collaboration within the e-commerce sector. (SHVIR)

Earlier, in January 2020, Shiprocket was honored with the BW Businessworld Techtors Award, recognizing it as one of the top tech companies to watch in the “Aggregator/Listing” category. (BW Award)

It Takes a Fleet: Partnering for Progress

Shiprocket has strategically partnered with various organizations to enhance its services and expand its reach in the e-commerce logistics sector. In August 2024, Shiprocket partnered with Snowflake, a global AI data cloud company, to enhance data infrastructure for its 1.5 lakh merchants. (Snowflake)

In January 2024, Shiprocket joined forces with Dependo, a growing logistics service provider, to enable Indian merchants with intercity same/next-day delivery. They also partnered with Truecaller, the globally renowned communication platform, to cater to the ever-evolving landscape of mobile commerce. This collaboration is reshaping the online shopping experience for consumers and empowering independent e-commerce merchants across India. (Dependo)

In August 2023, Shiprocket partnered with Shopalyst to join the Open Network for Digital Commerce (ONDC) as a Seller Network Participant. This empowers merchants by facilitating competitive pricing strategies for their products, bolstered by an extended market reach across the country. They also collaborated with Skye Air, a SaaS-based drone delivery solution provider, to introduce drone delivery services for their merchants. (Shopalyst)

Sailing Through Numbers: The Financial Voyage of Shiprocket

Shiprocket has successfully raised $323 million in total equity funding across 12 rounds. The company’s funding journey began in 2013 with a $250,000 seed round, which laid the foundation for its growth. This round included support from investors such as 500 Global, 5ideas, and Superfuel Ventures. By 2014, Shiprocket secured $2 million in a Series A round led by Nirvana Ventures Advisors, 500 Global, and Recruit Strategic Partners, among others. (Tracxn)

Series A & B

In January 2016, the company raised $7.6 million in another Series A round, boosting its valuation to $17.3 million. This round saw participation from Bertelsmann India Investments, Beenos, and Nirvana Ventures Advisors. Shiprocket continued to expand, with a $4.2 million Series B round in 2017 that increased its valuation to $22.2 million. This round included Bertelsmann India Investments and Nirvana Ventures Advisors.

Series C &D

The company achieved significant milestones with its Series C rounds in 2020 and 2021. In February 2021, Shiprocket raised $27 million, bringing its valuation to $611 million. Key investors included Tribe Capital, March Capital, and Bertelsmann India Investments. By July 2021, the company had raised $41.3 million in a Series D round, solidifying its position in the logistics industry.

Series E

The largest funding round occurred in December 2021, with Shiprocket securing $160 million at a valuation of $957 million. This round saw participation from prominent investors, including Temasek, Lightrock, and Zomato. By August 2022, the company had achieved unicorn status with a $48.4 million Series E round, valuing it at $1.2 billion.

In its most recent funding round in October 2023, Shiprocket raised $11 million, maintaining a valuation of $1.2 billion. Over the years, notable investors such as Temasek, Bertelsmann, March Capital, and PayPal have backed the company. Angel investors like Deepinder Goyal, Kunal Shah, and Peyush Bansal have also contributed to its growth.

Revenue

Shiprocket has shown remarkable growth in revenue over the years. In the fiscal year 2022-23, the company achieved a revenue of ₹1,126.7 crore, a significant leap from ₹634.5 crore in 2021-22. This marks an impressive growth of nearly 78%. The balance sheet also shows a healthy financial performance, with equity rising to ₹1,701.9 crore in 2022-23, up from ₹1,389.2 crore in 2021-22. 

Full Circle Delivery: Wrapping Up the Journey

Shiprocket stands as a remarkable example of how technology and innovation can simplify complex business challenges. The company provides a one-stop solution for e-commerce logistics, empowering businesses to ship products domestically and internationally with efficiency and ease. 

By integrating multiple courier partners, offering real-time tracking, and delivering advanced features like automated order processing and AI-powered recommendations, Shiprocket has become an essential tool for small and medium-sized enterprises looking to thrive in the competitive online marketplace. Its dedication to helping merchants streamline operations and enhance customer satisfaction makes it a pivotal player in the e-commerce ecosystem.

For aspiring entrepreneurs, Shiprocket serves as a source of inspiration.If you have a business idea, let their journey remind you that every successful company starts with addressing a real-world challenge. 

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