Logistics and fulfillment platform Shiprocket is acquiring a majority stake in supply chain solutions startup Glaucus with a merger agreement on the table for undisclosed terms, according to a Monday (Feb. 14) report from The Economic Times.
Shiprocket co-founder and CEO Saahil Goel said the company has its sights set on becoming India’s number one firm offering fulfillment services and it has the right elements in place to accomplish that, including technological expertise, available capital and problem-solving capabilities.
“It is essential to build innovative, resilient solutions to unlock the next phase of growth for the industry at large,” Goel said in a statement, per the report. “There is a need to remove the fulfillment complexity across B2B and B2C channels for our clients and help them focus on what they do the best.”
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The combined companies will give Shiprocket the ability to create products more quickly, boosting speed, accuracy and post-purchase performance on different channels.
The majority stake in Glaucus is Shiprocket’s fourth major acquisition play this year. Last month, Shiprocket acquired Rocketbox, a B2B logistics platform, and Wigzo Tech, a customer data platform. Earlier this month, it also acquired Logibricks, a Software-as-a-Service (SaaS) platform.
Read more: Indian Logistics Firm Shiprocket Acquires Rocketbox
Founded in 2015 by Vivek Kalra, Nitin Dhingra, Mandeep Kanwal and Jayant Mahto, Glaucus provides fulfillment services to mid-market brands using proprietary technology and a unique cross-section of processes.
The startup provides B2B distribution, sales return management, direct-to-consumer (D2C) marketplace fulfillment and managed transportation.
Headquartered in Delhi, India, the company also has offices in Gurgaon, Mumbai, Bangalore, Hyderabad, Ludhiana, Faridabad and Sonipat.
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Launched in 2017, Shiprocket provides its services across 29,000 Indian postal codes and offers multiple solutions. The company raised over $354 million in funding, with its latest being a $185 million Series E round led by Lightrock, Temasek Holdings and Zomato.
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