BENGALURU: Zomato-backed logistics and fulfillment platform Shiprocket on Friday acquired a 75% stake in Wigzo Tech, a Customer Data Platform (CDP) catering to the needs of e-commerce and D2C brands, for an undisclosed amount.
The deal will enable Shiprocket to expand its product stack for online retailers onboarding its platform.
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."
He added, "Wigzo helps brands analyse data in real-time through big data and AI or ML algorithms."
Founded by Umair Mohammed, Himanshu Kaushik, and Mohammed Atyab, Wigzo Tech is helping more than 400 e-commerce giants and D2C brands in their growth journey.
Its client portfolio include 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.
Launched in 2017, Shiprocket last year roped in $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.
Shiprocket delivers packets to more than 66 million consumers annually, and is growing 3X Y-o-Y.