Shiprocket rolls out accelerator programme for D2C startups

Shiprocket rolls out accelerator programme for D2C startups
Photo Credit: Thinkstock
17 Sep, 2020

BigFoot Retail Solutions, which owns and operates ecommerce logistics and shipping software solutions provider Shiprocket, on Thursday said that it has launched an accelerator programme for direct to customer (D2C) startups.

The New Delhi-based firm will invest between $100,000 and $500,000 in each startup selected for the cohort, a statement said. The capital infusion, it said, will be a mix of credit from various companies and cash from angel and venture capital investors.

Apart from fundraising opportunities, the Rocket Fuel programme will offer the finalists mentorship and access to market. Companies can apply for the programme till September 30, the statement said, adding that the first shortlist will be prepared by October 15.

The programme is managed by Applyifi, the statement said. The New Delhi-based company provides startups a 36-point scorecard to help them improve their fundraising chances.

“Our goal is to help entrepreneurs create great brands, provide them access to the best technology and help them scale up in a capital-efficient manner,” Saahil Goel, co-founder and CEO of Shiprocket, said. 

Additionally, startups registered and enrolled in the programme will gain access to Shiprocket’s distribution network, along with guidance from the brand’s expert resource network, it said.

Set up in 2016 by Goel and Gautam Kapoor, Shiprocket works with micro, small and medium enterprises (MSMEs) that operate in the ecommerce sector. In June, Akshay Gulati was promoted from the role of CBO to the co-founder position. The company claims to provide shipments in 220 countries, have 1.5 lakh sellers on board and work with 15 courier partners.

Read: Mumbai, Delhi, Bengaluru clock highest deliveries post lockdown: Shiprocket survey

Last month, Shiprocket announced its plans to hire 60 people this quarter for its engineering, product, logistics operations and account management teams. It employed 350 people at the time.