Saahil Goel's journey from being the "computer guy" in his family to building Shiprocket, a billion-dollar logistics empire, is a story of resilience, strategic pivots, and a relentless focus on solving the challenges faced by India's e-commerce merchants. Co-founded in 2012 by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket began its journey with the initial aim of becoming India's equivalent of Shopify, under the name KartRocket. However, the founders soon recognized a critical gap in the market: the lack of efficient and affordable shipping solutions for small and medium-sized businesses (SMBs).
This realization led to a pivotal shift in 2017, transforming Shiprocket from a store builder to a logistics aggregator. Goel and his team decided to tackle the unglamorous but essential problem of shipping, providing a platform that connects merchants with multiple courier partners and offering access to a wide network of pin codes across India. This allowed even small merchants to access shipping rates and services that were previously available only to large-volume shippers.
Shiprocket's business model revolves around providing integrated logistics, fulfillment, and checkout solutions for Indian D2C brands and SMBs. The company primarily generates revenue through a combination of subscription fees, per-shipment charges, and additional revenue streams from fulfillment services and financial products. By acting as an aggregator, Shiprocket captures a margin on each transaction, while empowering merchants to streamline their shipping processes.
As of early 2026, Shiprocket supports around 200,000 businesses. The platform processes a Gross Merchandise Value (GMV) of ₹25,000–30,000 crore annually, which constitutes approximately 4.5–5% of India's total e-commerce. Shiprocket's revenue in 2024 reached an estimated $205 million, demonstrating a growth of 21% year-over-year from $170 million in 2023. The company's core domestic shipping business contributes about 80% of the total revenue, while emerging segments like cross-border shipping, checkout services, and capital solutions are growing rapidly.
The company's success has attracted significant investor interest. Shiprocket's valuation is approximately ₹10,100Cr. Funds own the majority of Shiprocket's shares, accounting for 67.09%, while the founders hold 11.10%.
Looking ahead, Shiprocket has filed an updated draft red herring prospectus (UDRHP) for an initial public offering (IPO) aiming to raise ₹2,342 crore. The IPO includes a fresh issue of shares worth ₹1,100 crore. The IPO proceeds will be used for upgrading technology, product development, acquisitions, and expanding logistics infrastructure. The company is targeting a listing in the first quarter of FY27.
Saahil Goel sees the upcoming IPO as a key milestone that reflects internal discipline, scale, and governance. He believes it will set the logistics tech company on a new growth trajectory within India's booming direct-to-consumer, online, and quick commerce space. Goel emphasizes that the IPO marks the beginning of a new phase, viewing the company as an adolescent poised for long-term growth.
Shiprocket's strategy involves a focus on three growth engines: optimizing order generation for sellers on marketing platforms, expanding omni-channel logistics and fulfillment, and strengthening cross-border services. The company aims to empower merchants and brands to grow their e-commerce businesses and optimize costs. Shiprocket provides an automated platform that helps process forward and return orders efficiently at reduced costs.
Moreover, Shiprocket is leveraging artificial intelligence (AI) to enhance its services. The company recently launched an AI tool called RADAR to improve operational efficiency and customer satisfaction. Goel believes that AI is not just hype but a business-transforming reality that can change every industry.
Shiprocket's journey reflects the evolution of India's e-commerce landscape and the critical role of logistics in enabling its growth. By focusing on the needs of small and medium-sized businesses and continuously adapting to the changing market dynamics, Shiprocket has established itself as a key player in building India's logistics backbone.
