The strategic deal will enable Shiprocket to expand it’s product stack for online retailers onboarding its platform and facilitate a more personalized end to end consumer experience.
Shiprocket, India’s leading tech-enabled logistics and fulfillment platform, has committed to acquire a 75% stake in Wigzo Tech, a cutting-edge Customer Data Platform (CDP) specifically catering to the dynamic needs of e-commerce and D2C brands. The strategic deal will enable Shiprocket to expand it’s product stack for online retailers onboarding its platform and facilitate a more personalized end to end consumer experience.
The two brands will complement each other to deliver a superior customer experience by solving for critical pain points faced by ecommerce sellers. While Shiprocket’s expertise lies in leveraging delivery-behavior data and enabling end-to-end logistics and fulfillment efficiency, Wigzo Tech brings intelligence about customer affinity and purchasing behavior to increase conversion. Together, this unique yet robust combination equips every D2C brand with a personalized end-to-end buying experience.
Commenting on the acquisition, 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 USD 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.”
He further added, “With its underlying CDP rails and other applications such as business intelligence, consumer behavior, data analytics, and automated assistance, Wigzo packs a cutting-edge platform enabling every D2C brand to create tailored and personalized experiences for their target customers. It also helps brands analyze data in real-time through big data and AI or ML algorithms in just a few clicks. It is with immense pleasure that I welcome the Wigzo team to join us in creating a superior customer experience for every D2C brand.”
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 ecommerce 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.”
Founded by Umair Mohammed, Himanshu Kaushik, and Mohammed Atyab, Wigzo Tech is aiding more than 400 e-commerce giants and D2C brands in their growth journey. Their client portfolio includes Leaf Studios, Power Gummies, Swatantra Clothing, Stitch Clothing, and House of Rare. In addition, offline brands like Morphy Richards, Forest Essentials, Ethos Watches, and Basics Life are also being powered by Wigzo’s marketing automation and BI platform.
Shiprocket last year roped in USD 185 million in Series E round led by Zomato, Temasek, a Singapore-based wealth fund and Lightrock India. It is also backed by other marquee investors such as Bertelsmann India Investments, Tribe Capital, March Capital, Infoedge Ventures and PayPal Ventures.
Source: Business World