Shiprocket Targets Offline E-Commerce Amid Quick Delivery Services Surge

Earlier this year, Shiprocket secured $75 million in funding from Tribe Capital, potentially raising its value to $1.2 billion.

Shiprocket, a major player in logistics, is now extending its services to include offline shops. While it used to focus mainly on online businesses, it’s now offering new tools for physical stores and direct sellers. 

According to a report, Shiprocket’s CEO, Saahil Goel, introduced a new WhatsApp bot for storefronts and a fast-shipping service called Shiprocket Quick, which is available in Delhi-NCR, Bengaluru, Hyderabad, and Pune. Goel said the company plans to create special technology just for offline stores, which will improve over time. 

Shiprocket, which started in 2017 with Goel and his co-founders Vishesh Khurana, Akshay Gulati, and Gautam Kapoor, connects various courier services like Delhivery, FedEx, and Aramex to businesses. This expansion comes as more investors are interested in logistics startups due to increased demand for home delivery.

Other companies are also advancing in logistics. For instance, Ola, led by Bhavish Aggarwal, has started grocery delivery through a new network called ONDC. Magicpin has also entered the logistics field with its service called Velocity. 

Earlier this year, Shiprocket secured $75 million in funding from Tribe Capital, potentially raising its value to $1.2 billion. However, Shiprocket has had some financial difficulties. While its revenue grew by 78% to INR 1,089 crore for the fiscal year ending March 31, 2023, its net loss increased to INR 341 crore.

The Indian e-commerce logistics market is booming, expected to grow from around $4 billion in 2024 to $7.2 billion by 2029, with a yearly growth rate of 12.7%.