New Delhi: Tech-enabled logistics and fulfillment platform Shiprocket on Friday said it has invested $1.5 million in Logicbricks, a SaaS platform that enables online retailers to manage their end-to-end operations.
Logibricks will use the fresh funds to revamp its current product and launch its upgraded platform by April 2022 apart from hiring more talent and product innovation. The company is working on multiple solutions that it plans to implement in the near future, and the latest funding will act as a launchpad for the same.
The SaaS platform is aiming to introduce integrated seller onboarding and product cataloging for marketplaces, alongside improving consumer analytics and engagement to help sellers increase their sales. Additionally, the firm also plans on building payment reconciliation for marketplaces and payment gateways.
Saahil Goel, cofounder and CEO of Shiprocket said, Logibricks is a full-stack solution to ensure that online retailers can avail multiple services under a single umbrella. This is united with Shiprocket’s mission to provide simple solutions to online sellers, and the firm believes that Logibricks’ innovative tech-led solution will allow it to scale and bolster its infrastructure further.
“Logibricks is committed to solving the issue of retailers having to seek multiple platforms to run their business. Through our full stack solution, we integrate with other ecosystem partners to ensure a hassle-free experience for retailers and their end customers. We are delighted to be backed by Shiprocket, a frontrunner in the logistics and fulfillment space. We look forward to using the funds to achieve our goals and reach greater heights,” added Karan Kabra, cofounder of Logibricks.
Backed by Shiprocket, Logibricks plans to become a key tech enabler in the post-purchase D2C ecosystem, eventually creating open APIs for other players to enable integrations through its platform. The platform helps D2C players and retailers manage their online business, offline stores as well as B2B sales channel under a single roof. It plans on scaling it to 120 members in the next 3-6 months.
Meanwhile, Shiprocket, launched in 2017, is on a mission to create a seamless logistics data platform that connects retailers, carriers, and consumers across national and international locations. In addition to offering Shipping Services, 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.
Last month, Shiprocket acquired Rocketbox, a B2B logistics aggregator platform, for an undisclosed amount.
This article was originally published on economictimes.