Zomato-backed e-commerce shipping platform Shiprocket announced its third buyout this year with the acquisition of a majority stake in Glaucus Supply Chain Solutions.
Following the acquisition, the two platforms will combine their strengths to take the complexity out of fulfilment challenges faced by traders, retailers and brands, Shiprocket said.
Founded in 2015 by Vivek Kalra, Nitin Dhingra, Mandeep Kanwal and Jayant Mahto, Glaucus provides enterprise-grade fulfillment services to mid-market brands supported by a combination of processes, geographic spread, quality reporting, and proprietary technology. Glaucus key service offerings include B2B distribution, sales return management, D2C marketplace fulfillment, and managed transportation.
Shiprocket had earlier in January announced acquiring a 75 per cent stake in customer data platform Wigzo Tech and also the acquisition of business-to-business logistics aggregator platform Rocketbox.
Besides, on February 5, it said the company had invested USD 1.5 million in software-as-a-service (SaaS)-based logistics start-up Logibricks.
With over 17 courier partners on board, the brand enables pan-India as well as international shipping deliveries. Its shipping solutions are available across over 29,000 PIN codes within India and 220 countries across the world. The platform offers multiple solutions such as fulfilment and packaging, among others.
Speaking on the development, Saahil Goel, Co-Founder, and CEO of Shiprocket, in a statmemet, said, “In an environment where it is becoming increasingly important for every brand to delight their customers with both products and services, it is essential to build innovative, resilient solutions to unlock the next phase of growth for the industry at large. There is a clear need to remove the fulfillment complexity across B2B and B2C channels for our clients and help them focus on what they do best – make and sell products.”
Also, Read This: Pune-based Logibricks Has Raised USD 1.5 million From Shiprocket