PayPal Ventures, Bertelsmann lead $41.3m funding in Indian logistics startups Shiprocket

By stockimages. Freedigitalphotos.net

Logistics aggregator Shiprocket, that enables shipping for direct-to-consumer (D2C) retailers, has raised $41.3 million in Series D1 funding, co-led by PayPal Ventures, the corporate venture capital arm of American payments major PayPal Inc. and existing investor Bertelsmann India Investments.

New investor Info Edge Ventures and existing backers March Capital and Tribe Capital took part in the round. Strategic partners such as Razorpay and Innoven Capital, and entrepreneurs including Cred founder Kunal Shah and Deepinder Goyal, founder, Zomato also participated.

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