Shiprocket, a logistics aggregator backed by Zomato, is all set to acquire a 75% stake in Delhi-based Wigzo Tech for a valuation of around $20-25 million.

According to sources, the acquisition deal will have around 60% secondary and 15% primary components and is likely to help Shiprocket build a full-stack solution for its merchants to drive better logistics.

Additionally, following this deal, all the existing investors of Wigzo, including Mahandas Pai-backed 3one4 Capital and Advantedge Partners, besides angels investors, would be exiting the company.

Wigzo Technologies | A Customer Experience Solution

Founded in 2013 by Umair Mohammed and Himanshu Kaushik, Wigzo operates an enterprise automation suite and offers marketing automation platform e-commerce stores. 

It is a full-fledged customer data platform that helps e-commerce enterprises automate their customer engagement at different touchpoints via SMS, Email, On-site, WhatsApp, In-app, and so on. With in-built analytics, Wigzo gives marketers the real-time complete picture and situational awareness about their marketing campaigns vis-a-vis performance and ROI. 

Announcing the acquisition deal on Twitter, Wigzo, through its official Twitter handle, tweeted,

Shiprocket Last Funding

In December 2021, logistics aggregator Shiprocket closed a $185 million (Rs 1,380 crore) Series E funding round co-led by Zomato, Temasek and Lightrock India. This acquisition of Wigzo Tech is likely to be one of the first acquisition deals made by Shiprocket after raising funds.

On the funding, Saahil Goel, Co-Founder and CEO of Shiprocket, stated that the logistics aggregator would use the funding for acquisitions besides expanding the stack for merchants and warehouse expansions.

In FY20, New Delhi based Shiprocket reported operating revenue of Rs 161.2 crore and a net profit of a little over Rs 10 crore. A year previous to that (FY19), the logistics aggregator had clocked operating revenue of nearly Rs 59 crore with a net loss of Rs 8.6 crore. 

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