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Kuwait's Agility invests in India's e-commerce platform Shiprocket

Monday, September 26, 2022
Kuwait

A unit of Kuwait-based Agility, Agility Ventures, has invested in India's last-mile delivery aggregator and order management platform Shiprocket. The investment by Agility Ventures, the company's corporate venture capital arm, was used to help the New Delhi-based company to expand in the Middle East, a statement said.

The investment is part of Agility’s strategy to expand in digital logistics and e-commerce across high-growth markets through in-house development, acquisitions and investment in start-ups, said Henadi Al-Saleh, Agility chairwoman and head of Agility Ventures.

Shiprocket has the “first-mover advantage” in India’s potentially enormous e-commerce market and has built successful products for which there is a growing appetite in the Middle East and North Africa, including post-checkout services for smaller digital sellers, she said.

The Indian company's products solve logistics problems for business customers as they scale and also address demand in the business-to-consumer (B2C) e-commerce sector by offering customers a seamless post-checkout experience that includes delivery, Ms Al-Saleh said.

“The Middle East is a key market for Shiprocket and we are working towards providing the best technology solutions for e-commerce sellers, D2C [direct to consumer] brands and SMEs [small and medium enterprises] in the region via our Shiprocket Direct and Wigzo platforms," said Akshay Ghulati, co-founder of Shiprocket. "We are pleased to welcome Agility as an investor in Shiprocket and look forward to working with them and growing in the region,” he added.



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