India Digest: Shiprocket acquires Rocketbox; Flipkart buys Yaantra

Photo: Pixabay

Tech-enabled logistics and fulfillment platform Shiprocket has acquired Rocketbox, a B2B logistics aggregator platform. Separately, The Flipkart Group has acquired electronics recommerce company Yaantra.

Shiprocket acquires Rocketbox

Tech-enabled logistics and fulfillment platform Shiprocket has acquired Rocketbox, a B2B logistics aggregator platform, for an undisclosed amount.

Rocketbox founders will join the Shiprocket leadership team and continue to build the cargo product as part of this deal.

Rocketbox, which is now Rocketbox by Shiprocket, and Shiprocket complement each other to address the pain points and technical complexities that merchants/brands face while reducing the costs of LTL (less-than-truckload) cargo shipping. The product aims to improve the service quality through customer support, transparent SLAs, and ease out booking of bulk shipments, Shiprocket in a statement.

Launched in June 2015, Rocketbox began as an intra-city on-demand truck provider and aggregated with over 5,000 drivers on its platform. Post a Series A funding round from Delhivery and expansion of operations, Rocketbox launched its application suite catering to vendor payment, client billing, fleet management, client dashboard, driver app, etc. By 2020, the platform was catering to more than 28,000 pin codes PAN India, working with seven carriers, and offering 11 different services.

Flipkart buys electronics re-commerce startup Yaantra

The Flipkart Group Wednesday announced that it has acquired Yaantra, an electronics re-commerce company, to strengthen its re-commerce business and enhance after-sale offerings for its customers in the smartphones segment.

Incorporated in 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta, Yaantra repairs and sells refurbished consumer tech products such as smartphones and laptops. The business will report to Prakash Sikaria, senior vice president and head of Flipkart’s Growth Charter.

“India is one of the fastest-growing markets for electronic goods, with smartphones being one of the most in-demand. There is a large set of consumers who aspire to own branded devices, but prices are sometimes prohibitive. This is where Yaantra fits in perfectly. Their re-commerce value chain and refurbishment capability will allow Flipkart to create a very meaningful recommerce offering,” said Prakash Sikaria, senior vice president – growth & marketing, Flipkart.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.