Leading logistics and fulfilment platform Shiprocket has decided to acquire a 75 per cent stake in Wigzo Tech, a Customer Data Platform (CDP) specifically catering to the dynamic needs of e-commerce and D2C brands for an undisclosed amount.
The company said this strategic deal will enable it to expand its product stack for online retailers onboarding its platform and facilitate a more personalized end-to-end consumer experience.
Saahil Goel, Co-Founder, and CEO of Shiprocket said, “India’s D2C space is currently showcasing massive growth. Today, the country has over 10,000 D2C brands, with the sector projected to touch $100 billion by 2025. For D2C brands, leveraging data can play a pivotal role in having an edge above their contemporaries. Suffice to say, modern consumers are drawn to brands that take a carefully tailored approach to their buying experience. This is where Wigzo is proving a game-changer in assisting D2C brands.”
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While Shiprocket’s expertise lies in leveraging delivery-behaviour data and enabling end-to-end logistics and fulfilment efficiency, Wigzo Tech brings intelligence about customer affinity and purchasing behaviour to increase conversion, the statement added.
Umair Mohammad, CEO & Co-founder, Wigzo Tech said, “We are pleased to be associated with Shiprocket, which has time and again proven its role as an e-commerce enabler. As we went through the process of evaluating what our association could mean, we were certain that this would be an immensely beneficial partnership. We are looking forward to working closely with them to build innovative, futuristic solutions that will kickstart the next phase of growth for the industry.”
Last year,Shiprocket raised $ 185 million in Series E round led by Zomato, Temasek, a Singapore-based wealth fund and Lightrock India. It is also backed by other investors such as Bertelsmann India Investments, Tribe Capital, March Capital, Infoedge Ventures and PayPal Ventures.