Cash from Temasek et al. to fuel Zomato-backed Shiprocket as acquisition spree drains coffers
Synopsis
Internal rounds are usually seen as stopgap measures adopted when a company finds it difficult to convince outsider investors about its business. But in this instance, the reason is different. Existing stakeholders want the company to bolster its cash reserves so that it can keep up its expansion plans even in a funding winter.
Even as horizontal marketplaces see sales tapering under the weight of inflation, the direct-to-consumer (D2C) and instant-delivery segments are stirring up the e-commerce universe. This wave of D2C and quick commerce is providing tailwind to some of the e-commerce logistics firms, and talks are in progress for fresh investments amid the current funding slowdown.Zomato-backed logistics facilitator Shiprocket, which helps D2C companies ship
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