Shiprocket, an ecommerce shipping company, announced on Friday that it has “committed” to acquiring a 75 percent stake in Wigzo Tech, a customer data platform (CDP). Shiprocket said in a release that the proposed strategic acquisition will allow it to expand its product stack for online retailers onboarding its platform, among other things.
Wigzo Tech specialises in meeting the ever-changing needs of ecommerce and direct-to-consumer brands.
Shiprocket raised $185 million in a Series E round last month, with the proceeds going toward acquisitions and business expansion, among other things.
According to the release, Wigzo Tech, founded by Umair Mohammed, Himanshu Kaushik, and Mohammed Atyab, is assisting more than 400 ecommerce giants and D2C brands in their growth journey with its marketing automation and BI (business intelligence) platform.
According to Shiprocket, the two brands will work together to provide a better customer experience by addressing critical pain points for e-commerce sellers.
While Shiprocket specialises in leveraging delivery-behavior data to enable end-to-end logistics and fulfilment efficiency, Wigzo Tech brings intelligence about customer affinity and purchasing behaviour to increase conversion.
“…With its underlying CDP rails and other applications such as business intelligence, consumer behaviour, data analytics, and automated assistance, Wigzo packs a cutting-edge platform enabling every D2C brand to create tailored and personalised experiences for their target customers.
“It also helps brands analyse data in real-time through big data and AI or ML algorithms in just a few clicks,” said Saahil Goel, cofounder-CEO, Shiprocket.
Umair Mohammad, CEO and cofounder, Wigzo Tech, said, “As we went through the process of evaluating what our association could mean, we were certain that this would be immensely beneficial. 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”.
Shiprocket’s technology powers shipping and fulfilment for SMEs, direct-to-consumer retailers, and social commerce sellers across India.
Shiprocket has a presence in both domestic and international markets, with over 17 courier partners on board, offering shipping solutions across over 29,000 pin codes in India and 220 countries worldwide.
Get to know the pulses of the Indian startup ecosystem in reality by attending “INDIA FIRST TECH STARTUP CONCLAVE & AWARDS’22-Delhi Chapter” organized by the All India Council for robotics and automation, supported by the Ministry of electronics and information technology.
The event is scheduled to be held on the 17th and 18th of February 2022, marking the biggest tech startup event this year. The event brings together the speakers that are the best breed of entrepreneurs, innovators, venture capitalists, government department’s representatives, business model creators, consultants, policy-makers, academicians, support groups, business coaches and business practitioners.
The Platform helps startups to ramp up their innovative ideas and show off their services and products to attract investors. The experts of the industry will address and discuss all the innovations happening around the startup environment that youth empowerment and new-age tech business ideas can grow.
Click to know more about India’s biggest tech startup event: IndiaFirst Tech Start up | AICRA
