Liquidity Events
Logistics aggregator Shiprocket to acquire 75% stake in customer data platform Wigzo
Ecommerce shipping and enablement firm Shiprocket will acquire a 75% stake in fellow New Delhi-based customer data platform Wigzo Tech. The partnership will help expand the product line-up for online retailers who joined the platform. Wigzo Tech, started by Umair Mohammed, Himanshu Kaushik and Mohammed Atyab, serves over 400 e-commerce and D2C companies, including Leaf Studios, Power Gummies, Stitch Clothing, House of Rare, Morphy Richards, Forest Essentials, Ethos Watches and Basics Life. It aims to enable D2C brands to create tailored and personalized experiences for target customers. Operated by Bigfoot Retail Solutions, Shiprocket aims to help D2C brands by ramping up their technology stack to strengthen marketing conversions. Shiprocket is backed by Zomato Ltd, Temasek Holdings, Lightrock India, 9Unicorns, InfoEdge Ventures, Moore Strategic Ventures and March Capital, among others.
From the Venture Intelligence PE-VC Deal Database: Between Aug-14 and Jul-19, Wigzo had raised $2.3 M from Cornerstone Venture Partners Fund, SEA Fund, 3ONE4 Capital, Paragon Partners, AdvantEdge Partners, Aarin Capital, Outbox Ventures, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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