Logistics technology platform Shiprocket said on Friday it has acquired Rocketbox, a B2B logistics aggregator platform, for an undisclosed sum.
The Rocketbox (now Rocketbox by Shiprocket) founders will join the Shiprocket leadership team and continue to build the cargo product as part of this deal, the company said in a statement.
"Rocketbox has a cutting-edge platform which extends Shiprocket's capabilities to B2B use-cases as well as bulk movement using cargo carriers. The platform brings along a host of features which will help retailers save time, cost, and effort, allowing a smooth end-to-end logistics experience," said Saahil Goel, Co-Founder and CEO of Shiprocket.
Rocketbox by Shiprocket product aims to improve the service quality through dedicated customer support, transparent SLAs (service level agreements), and ease out booking of bulk shipments.
Launched in June 2015, Rocketbox began as an intra-city, on-demand truck provider and aggregated with more than 5,000 drivers on its platform.
"I look forward to working with the Shiprocket team to take Rocketbox to new heights and continue on this journey together", said Raghav Singhania, Co-founder and CEO Rocketbox.
Launched in 2017, Shiprocket is backed by Zomato, Tribe Impact Capital, March Capital, PayPal Ventures, Info Edge Ventures, Lightrock and Bertelsmann India Investments.
Zomato led the $185 million (Rs 1,380 crore) Series E funding round in the platform, along with Temasek and Lightrock India, in December.