Shiprocket, a logistics and fulfillment platform has announced to invest USD 1.5 million in Logicbricks, a SaaS platform that enables online retailers to seamlessly manage their end-to-end operations on the post-purchase side, an official statement highlighted.
The company’s statement also announced that Logibricks will be utilizing the freshly infused capital to revamp the current product and launch its upgraded platform by April 2022 and will also be directed towards talent acquisition and product innovation.
Additionally, Logibricks is working on multiple solutions that it plans to implement in the near future, and the latest funding will act as a launchpad for the same. The SaaS platform is aiming to introduce integrated seller onboarding and product cataloging for marketplaces, alongside improving consumer analytics and engagement to help sellers increase their sales. Logibricks also plans on building payment reconciliation for marketplaces and payment gateways. Logibricks raised convertibles from Akshaya Kamath, ex-MD and CEO of Syngenta India Ltd., and is an advisor to the team. Logibricks raised USD 1.5 million in their Pre-Series A round of funding completely with Shiprocket.
Saahil Goel, Co-Founder and CEO of Shiprocket said, “Over the years, Shiprocket has gone from being just an e-commerce logistics aggregator to building a world class post checkout experience. Apart from this growth, we have also been mentoring and backing several emerging businesses through our accelerator program, Rocketfuel. Logibricks is a full-stack solution to ensure that online retailers can avail multiple services under a single umbrella. This is united with Shiprocket’s mission to provide simple solutions to online sellers, and we believe Logibricks’ innovative tech-led solution will allow them to scale and bolster their infrastructure further.”
Karan Kabra, Co-founder, Logibricks also commented on this “Since inception, we have pivoted the business model twice. We are currently rebuilding our tech stack for scalability and higher performance, making Logibricks a complete SaaS platform. Logibricks is committed to solving the issue of retailers having to seek multiple platforms to run their business. Through our full stack solution, we integrate with other ecosystem partners to ensure a hassle-free experience for retailers and their end customers. We are delighted to be backed by Shiprocket, a frontrunner in the logistics and fulfillment space. We look forward to using the funds to achieve our goals and reach greater heights.”
Logibricks is a five-year-old startup based out of Pune. The founders Ameya Shah, Karan Kabra, and Shereef Mohammed set out with a vision to be a significant player in the D2C tech enablement space. With strong consumer analytics and with the help of integrations with multiple shopping carts, marketplaces, logistics partners, and payment gateways, the platform provides a seamless experience to its customers.
Backed by Shiprocket, Logibricks plans to become a key tech enabler in the post-purchase D2C ecosystem, eventually creating open APIs for other players to enable integrations through its platform. The platform helps D2C players and retailers manage their online business, offline stores as well as B2B sales channel under a single roof.
