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Shiprocket To Fuel Zomato

Logistics technology platform Shiprocket on Friday said it has signed a definitive agreement for a $185 million (Rs 1,380 crore) Series E funding round, co-led by Zomato, Temasek and Lightrock India…reports Asian Lite News

This marks Shiprocket’s third round of funding in 2021, bringing the total funds raised to $280 million.

Shiprocket focuses on providing Amazon Prime-like shipping experiences for sellers and consumers across India in direct-to-consumer e-commerce.

“We are excited about the vast, untapped opportunity that lies in post-purchase technology enablement in the D2C e-commerce space. This fundraise is a validation of the hard work put in by the entire Shiprocket team over the last 4 years,” said Saahil Goel, CEO and Co-founder, Shiprocket.

New investors, Moore Strategic Ventures and 9unicorns, are also participating in this round, along with existing investors, InfoEdge Ventures and March Capital.

Launched in 2017, Shiprocket is the fastest company to become profitable in 24 months while also doubling its ARR (annual run rate) over the last 6 months.

Shiprocket said it will deploy fresh funds towards aggressive core product expansion, research and development, talent acquisition, and development of a comprehensive suite of products for retailers.

“With the launch of our services in the Kingdom of Saudi Arabia in November 2021, we have also taken the first step towards expanding our footprint in new geographies,” said Goel.

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Shiprocket also provides a technology stack to help retailers integrate their shopping websites on Shopify, Magento, WooCommerce, Zoho and others for workflow, inventory and order management.

“Shiprocket plugs a big hole in the e-commerce space by offering customers of direct-to-consumer brands a seamless post checkout experience, including delivery,” said Deepinder Goyal, CEO and Co-founder, Zomato.

Tech leaders urge to help ‘breathless India’

He also called up start-ups and companies to contribute at this crucial hour…reports Asian Lite News.

Oxygen shortage has become a huge crisis in India. More than two weeks after oxygen shortages were reported across India, particularly in the national capital, many technology leaders have come forward to help the citizens.

“We have sourced supplies for oxygen concentrators of different sizes while we place the order using our own money. We want you to join hands in solving #OxygenShortage,” Vijay Shekhar, Founder Paytm said in a tweet on Sunday.

India needs your help with #OxygenShortage . We have sourced supplies of different size of oxygen concentrators.
We want to double the count we order & bring here. So pls donate here https://t.co/oBuURdSDYH and @Paytm will match ₹ to ₹ .
Pls donate and share too 🙏🏼🙏🏼🙏🏼
— Vijay Shekhar Sharma (@vijayshekhar) April 25, 2021

“Donate here https://paytm.com/offer/donateoxygen and we will match your contribution and use it to source OCs. Also, do RT,” he added.

Foodtech platform Zomato on Wednesday rolled out a priority delivery feature for Covid-19 emergencies, including oxygen, Chief Executive Officer Deepinder Goyal announced on Twitter.

We have already kickstarted the effort, and now need your help to raise ₹50 crores for @FeedingIndia in the next few days (hours?) to save hundreds of thousands of lives. If we raise more, we will get more oxygen.

Domestic donors go here – https://t.co/mFrGvIoj0l
— Deepinder Goyal (@deepigoyal) April 25, 2021

“Zomato Feeding India, our not-for-profit has kickstarted the “Help Save My Indiaa endeavour today in association with @delhivery to source oxygen concentrators and related supplies to help hospitals and families in need,” Goyal tweeted.

He also called up start-ups and companies to contribute at this crucial hour.

“We have already kickstarted the effort, and now need your help to raise a,50 crores for @FeedingIndia in the next few days (hours?) to save hundreds of thousands of lives. If we raise more, we will get more oxygen. Domestic donors go here – http://zoma.to/oxygen,” he added.

Under its “feed the daily wager” campaign, initiated last year, Zomato distributed 78 million meals for poor who lost access to livelihood, it said.

The second wave of Covid has turned more deadly as more and more people this time are complaining of breathlessness and need oxygen support. However, the sudden spike in demand across cities has led to severe shortage.

Several major hospitals in Delhi have repeatedly come close to running out of oxygen and have sent SOS messages. Besides Delhi, hospitals across Maharashtra,Gujarat, Haryana, Madhya Pradesh are also facing an oxygen shortage.

“I’m willing to fund hospitals in India that need funding to import bulk planeloads of oxygen or supplies into India to increase supply. Public hospitals/NGO’s also pls reach out,” Vinod Khosla, technology guru and entrepreneur, said in a tweet on Sunday.

Apologies, this is done. Please DM if you are a hospital. Working with a few NGO's to help source and supply https://t.co/PEkDksIcCe
— Vinod Khosla (@vkhosla) April 25, 2021

A lot of people have also turned to social media to find oxygen or a hospital bed for their friends and family.

Meanwhile, Prime Minister Narendra Modi held a virtual meeting with the leading oxygen manufacturers to address the acute shortage of medical oxygen and oxygen cylinders across the country.

India on Sunday reported a record daily rise of 349,691 new coronavirus infections, taking its overall tally to 1,69,60,172.

A total of 2,767 people were reported dead on Sunday, according to health ministry data, taking total coronavirus fatalities to 192,311.

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