Shiprocket buys majority stake in fellow logistics tech startup Pickrr for $200-M

Logistics aggregator Shiprocket has acquired a majority stake in rival Pickrr through a cash-and-stock deal valued at around USD 200 million. As part of the transaction, Pickrr founders - Gaurav Mangla, Ankit Kaushik and Rhitiman Majumder - are getting shares in Shiprocket, while its financial investors are taking a cash exit. While Shiprocket has acquired around 80% in Pickrr upfrom, the balance will be acquired over the next few months. Pickrr will add about 40% extra volume to Shiprocket's total volumes, which after the merger will be about 10 million a month. Shiprocket has closed four smaller acquisitions this year including customer data firm Wigzo Tech, B2B logistics company Rocketbox and supply chain management firm Glaucus.