Logistics platform Shiprocket has recently raised USD 11 million in funding from McKinsey’s investment entity AFOS. This investment will give McKinsey a 0.91 per cent stake in Shiprocket.
Shiprocket reached unicorn status in August 2022 with a valuation of USD 1.3 billion. In the fiscal year 2021-22, Shiprocket reported a revenue of Rs 611.13 crore, a 70.7 per cent increase from the previous year.
The brand also reported losses of Rs 93.15 crore, with expenses rising by 107 per cent to Rs 727.8 crore. Shiprocket provides logistics fulfillment services to about 250,000 merchants and has expanded its business through strategic acquisitions.