Zomato-backed Shiprocket invests in logistics SaaS platform Logibricks
Zomato Ltd-backed e-commerce shipping and enablement firm Shiprocket, operated by BigFoot Retail Solutions Pvt Ltd, has invested $1.5 million in Logibricks Technologies Pvt Ltd, a (software-as-a-service) SaaS platform that enables online retailers to manage their end-to-end operations on the post-purchase side, the company said in a statement on Friday.
Logibricks will be using the funds to revamp its current platform, and launch the upgraded version by April, the company said. The company will also use the funds for product innovation and hiring employees, the company said.
The SaaS platform is aiming to introduce integrated seller onboarding and product cataloging for marketplaces, it said. The company said it also aims to improve consumer analytics and engagement to help sellers increase their sales and has plans to build payment reconciliation for marketplaces and payment gateways.
Logibricks said it raised convertibles from Akshaya Kamath, former Managing Director and Chief Executive Officer of Syngenta India Ltd. Kamath is also an advisor to the team, Logibricks 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 we believe Logibricks’ innovative tech-led solution will allow them to scale and bolster their infrastructure further,” said Saahil Goel, Co-founder and Chief Executive Officer, Shiprocket.
Pune-based Logibricks was founded in 2017 by Ameya Shah, Karan Kabra, and Shereef Mohammed. The company aims to become a tech enabler with Shiprocket in the post-purchase D2C (direct-to-consumer) ecosystem by creating an open application programming interface (API) for other players to enable integration through its platform, the company said. The company claims to have 70 employees currently and said that it aims to add another 50 in the next 3-6 months.