Tag: Shiprocket

Business World

Time for SMEs to tech up: Companies helping them to go online

Apr 23, 2021 by Neel Achary 0 Comments #BANKIT, #Paytm, #Shiprocket, #SMECorner

SMEs are organizations that look after incomes, resources, or various representatives under a specific edge. Every nation has its own meaning of what comprises a small and medium-sized venture (SME). Certain size measures should be met and infrequently the business in which the organization works is considered too. Despite the fact that small in size, small and mid-size enterprises (SMEs) assume a significant part in the economy. They dwarf enormous firms significantly, employ a lot of individuals, and for the most part is entrepreneurial in nature, helping to shape innovation.

Here is the list of few companies who are helping SMEs to adapt digitalization:

1. Shiprocket:
Shiprocket is India’s largest e-commerce enablement and shipping platform for SMBs. Shiprocket leverages cutting-edge technology for its shipping and fulfillment services to SMEs, D2C retailers, and social commerce sellers in the country. With 20 courier partners on board, the brand has also enabled international shipping and its solutions are available across 27,000+ pin codes within India and across 220 countries in the world.
Incepted in 2017, Shiprocket is on a mission to create a seamless logistics platform that connects retailers, carriers, and consumers across national and international locations. Apart from shipping services, Shiprocket also offers a technology stack to assist retailers in integrating their online stores on Shopify, Magento, WooCommerce, Zoho, etc., for workflow, inventory, and order management. Furthermore, Shiprocket also recently launched Rocket Fuel, a startup accelerator program that offers capital and mentorship from industry experts to help D2C startups scale their business exponentially.

2. BANKIT:
BANKIT services private limited is an assisted B2C company. The vision of the company is to make millionaires agents network i.e., to maximize the number of agents who are able to make Rs. 5-10L as revenue in a year by delivering various BANKIT services.
BANKIT is a Business Correspondent to various banks. This results in fast, simple, and secure transactions. BANKIT’s one stop outlets provide instant and hassle-free service delivery for Banking financial services like Domestic Money Transfer, AePS, mATM (Debit card Cash withdrawal) and prepaid cards for value added services like Prepaid recharges, Bill payments, Travel bookings, CMS, insurance etc. The company is also associated with 20,000 local retail stores to boost their business via additional services and providing digital access in tier 2 and tier 3 areas.

3. Paytm
Paytm is an Indian multinational technology company that has practical experience in digital wallet, online business, e- commerce, monetary innovation organization, situated in Noida, Uttar Pradesh, India. Paytm is right now accessible in 11 Indian dialects and offers online use-cases like portable re-energizes, service charge instalments, travel, films, and occasions appointments just as in-store instalments at supermarkets, leafy foods shops, eateries, stopping, costs, drug stores, and instructive organizations with the Paytm QR code.
According to the organization, more than 7 million vendors across India use their QR codes to transfer payments directly into their bank accounts. The company additionally utilizes ads and paid limited time substance to produce incomes.

4. SMECorner
SMEcorner is a modern age Fintech moneylender, that helps SMEs in India meet their functioning capital necessities with insurance free business credits in only 24 hours. SMEcorner’s base camp is situated in Mumbai. They, as of now, work in 7 states like Maharashtra, Gujarat, Rajasthan, Delhi, Karnataka, Telangana, and Tamil Nadu across 22 urban communities.

They use a proprietary online platform that combines Artificial intelligence, information science, and computerized reasoning to give a consistent and quick client experience. They have items like Unsecured Business Loans and Loan Against Property with extraordinary items like MSME Loans and Women Entrepreneur Loans to address the issues of working capital and energize women entrepreneurs in India.

Business World, News

Shiprocket raises USD $27 million in Series C from Tribe Capital and March Capital…

Feb 19, 2021 by Rekha Nair 0 Comments #Bertelsmann India Investments, #CEO and Co-founder, #Managing Director, #March Capital, #Pankaj Makkar, #Partner, #Rajan Mehra, #Saahil Goel, #Shiprocket

New Delhi: Shiprocket, a Delhi, India-based eCommerce shipping platform that enables fast and cost-effective shipping for D2C retailers has raised USD $27 million (INR 200 Crore) in Series C3 funding. The round was co-led by Tribe Capital, a leading Silicon Valley-based venture capital firm, along with March Capital, a Santa Monica-based venture growth firm. Rahul Mehta of DST Global also participated in the round along with existing investor Bertelsmann India Investments.

The latest infusion of capital brings Shiprocket’s total funding to USD $53 million. The investment will fuel Shiprocket’s aggressive product development roadmap, which includes hiring top talent across product, data, and engineering functions. The funds will also focus on the company’s new strategic initiatives, including expanding globally.

“Shiprocket is the first and the largest D2C shipping enabler in India today. With the growth in D2C as a share of overall eCommerce, there is a growing opportunity to enable the full-stack of services in the post-purchase journey of the D2C consumer. We are excited with the promise the coming years hold for this market and are delighted to be partnering with the smartest capital in the industry along this journey!” said Saahil Goel, CEO and Co-founder, Shiprocket.

“We already power shipping for over 100,000 merchants and have recently launched Shiprocket Fulfilment for extending the existing platform include storage, pick, pack and dispatch. Further, we want to invest in building world-class consumer experiences, as well as helping merchants, grow their business with allied services in the coming years,” he added.

Rajan Mehra, Partner, March Capital said, “E-commerce growth is being led by D2C brands, and Shiprocket’s solutions help enable their growth. Shiprocket has simplified the post-purchase experience for thousands of sellers and millions of buyers, and we are excited by their plans for the future of e-commerce”.

Pankaj Makkar, Managing Director, Bertelsmann India Investments said, “We are excited with the recent fund raise by the company which will help Shiprocket build an exceptional post-purchase experience for the company’s 100k merchants. We continue to participate in the fundraise and to support the company to build world-class technology platform for India and eventually the world. ”

Launched in 2017, Shiprocket turned profitable in FY 18-19 and has an annualized revenue run rate between USD $50-60 million. Shiprocket currently processes more than 4 Million monthly shipments, enabling more than 100,000 sellers to sell directly to their consumers across India. Shiprocket previously raised USD $26 million in funding from Bertelsmann India Investments, Nirvana Venture Partners, Beenext, and 500 Startups; these investors continue to back Shiprocket today.

The Series C financing caps an exceptional year for Shiprocket where it saw rapid business growth, key executive appointments, and numerous product launches. Partnering with over 17 logistics providers, Shiprocket’s tech-enabled logistics platform connects merchants, consumers, and supply chain partners across 26,000 pin codes PAN India and 220+ countries and territories globally to create delightful shipping experiences.

Business World

D2C e-commerce sector witnesses 27.86% increase in new sellers from tier-III cities during the pandemic: Report by Shiprocket on D2C Festive season

Nov 11, 2020 by Neel Achary 0 Comments #and Co-Founder of Shiprocket, #CBO, #CEO, #D2C e-commerce segment, #Mr. Akshay Ghulati, #Mr. Saahil Goel, #Shiprocket

New Delhi: Just ahead of India’s grand festive season, Shiprocket, India’s leading tech-enabled D2C aggregator, has released a report on the state of the D2C e-commerce segment that details various aspects including new sellers, most popular online channel, top product categories, etc. Since the onset of the pandemic, Shiprocket has added several new sellers with 69% new sellers who joined after the global pandemic, availing the brand’s service in September.

The report is an analysis of shipment trends just ahead of the grand festive season in the D2C sector for a period between 1st September and 30th September, with a sample size of over 40, 816 sellers across the country.

The up-and-coming company also observed that the most popular sales channel for new sellers (17.92%) were social media platforms while for existing sellers, it was the online websites (35.19%). The second most popular channel for new sellers was offline channels (12.04%) and for existing sellers, it was noticed that social media (32.75%) was the next most popular sales channel. Shiprocket also noted that the top product categories during the festive season were personal care (18.45%), food and groceries (16.51%), apparel (15.09%), electronics (11.37%), healthcare (7.60%), household and cleaning supplies (4.59%), and jewelry (3.83%).

Speaking on the festive season report, Mr. Akshay Ghulati, CBO, and Co-Founder of Shiprocket said, “It is interesting that we are seeing an increased adoption of social media channels for online selling amongst new sellers during the pandemic. We expect that many of these sellers will now also set up their own website to help build their brands and increase online sales. This has been especially true in the personal care segment where we have seen a host of new brands emerge during the pandemic with unique product propositions. Shiprocket is an essential service to provide a superior customer experience and we expect to see strong growth even post the festive season as many of our sellers will continue to build their brands further.”

With a strong presence in tier-I and tier-II cities, sellers from tier-I cities accounted for 44.20% and sellers from tier-II cities accounted for 32.19% of the sellers on the Shiprocket platform. Sellers from tier-III cities constituted 23.16% of the seller base. Shiprocket also took into account the top cities for pick-up and delivery. The report found that cities such as New Delhi, Mumbai, Bangalore, Surat, and Gurgaon were the top cities for pick-up of goods. New Delhi, Mumbai, and Bangalore topped the charts again for the most delivery of shipments with Hyderabad and Kolkata securing the 4th and 5th positions.

Shiprocket’s detailed festive season report also determined that the transactions, which involved cash on delivery had significantly declined in the post-COVID era as compared to the pre-pandemic times. The e-commerce aggregator witnessed 63.64% of male sellers on its platform and 36.36% of female sellers. When determining the most popular products, Shiprocket found that N95 facemasks, health and sexual wellness supplements, personal care products such as hair oil and hair shampoo, and kurtis were some of the in-demand products.

Speaking on the festive season report, Mr. Saahil Goel, CEO, and Co-Founder of Shiprocket said, “This is a time when the e-commerce segment is growing at a breakneck pace with the demand for home delivery skyrocketing. Our festive season report is aimed at analyzing the current position of the D2C sector and forecast its progress. We have noticed that as compared to September 2019, there has been a 160% increase in the order volume. We are also expecting that the festive season will bring in added value in terms of revenue, sales, and the number of sellers using Shiprocket. Our team of experts has predicted over 100% of growth in the volume of sales by 2021 and we will continue to expand our services to cater to small and medium sellers across the country.”

Incepted in 2017, Shiprocket works with MSMEs in the e-commerce sector, providing seamless shipping experiences across 27,000+ pin codes PAN India and 220 countries globally, leveraging cutting-edge technology. In addition to logistics, Shiprocket also offers other services such as packaging and warehousing to its sellers and is present across multiple cities in India.

About Shiprocket:-

Shiprocket is India’s largest eCommerce shipping and enablement platform for SMBs. The technology powers shipping and fulfilment for SMEs, D2C retailers and social commerce sellers in India. With 20 courier partners on board, the brand enables pan-India as well as international shipping deliveries. Its shipping solutions are available across 27,000+ pin codes within India and 220 countries across the world.

Launched in 2017, Shiprocket is on a mission to create a seamless logistics data platform that connects retailers, carriers, and consumers across national and international locations. In addition to offering Shipping Services, Shiprocket also provides a technology stack to help retailers integrate their shopping websites on Shopify, Magento, Woocommerce, Zoho, and others for work flow, inventory, and order management.

With a multi carrier API that allows sellers to manage orders, print shipping labels, and avail tracking information from multiple providers, Shiprocket also offers state-of-the-art fulfilment solutions. The brand also provides a robust post-purchase experience to consumers, resulting in higher engagement and lower RTO (failed deliveries). Aside from being a shipping solutions provider, Shiprocket also serves as a Cash on Delivery payment gateway. The company recently ventured into the fin-tech space with their lending product ‘Early COD’. Today,  Shiprocket is the force behind the country’s 1.5 lakh sellers who generate a GMV of more than $500M annually on the platform. The brand delivers packets to nearly 25M consumers annually and is growing 3X year on year.