Shiprocket eyes investment from Koch, Tribe amid a larger fundraise

livemint.com:

Read this | HNIs pivot towards early-stage startups as late-stage entities face correction Shiprocket, Tribe and Koch did not immediately respond to Mint’s request for a comment. Globally, investors are increasingly turning their attention to India, seeking to capitalize on the country’s promising investment landscape. Mint has reported that firms like London-based Pantheon Ventures and US-based HarbourVest Partners have expressed intentions to ramp up their investment activities in India.

Backed by Zomato, Shiprocket made headlines two years ago when it joined the coveted unicorn club after raising $32 million in a round led by Temasek and Lightrock. Last year, it secured an additional $11 million in an extended Series E round from McKinsey. To date, the company has raised approximately $350 million from various investors, including Moore Strategic Ventures, PayPal, and Bertelsmann, the largest institutional shareholder, according to data provider Tracxn.

In the current investment landscape, where companies are either matching or shedding past valuations, Shiprocket's consistent valuation is noteworthy. Despite a surplus of dry powder among investors, the valuations have yet to return to the highs of 2021. Investors are increasingly favouring companies that have managed to reduce high burn rates and move toward profitability.