This story is from July 31, 2024
Helping MSMEs benefit from online retail
- In 2012, the Indian e-commerce industry was on the cusp of significant growth, but MSMEs faced a major obstacle. As high as 60% of these businesses were confined to traditional channels, unable to leverage the potential of online retail.
- Saahil Goel recognised this, left his technology job in the US and returned to India in 2012, and together with friend Gautam Kapoor, they established Kartrocket, a do-it-yourself platform designed to help SMEs set up and manage online stores. Three years later, they joined forces with Vishesh Khurana, who was developing solutions for the e-commerce industry, to also launch a mobile marketplace called Kraftly. As the app gained traction, the team identified the need for a comprehensive toolkit to enable MSMEs to sell directly to customers through e-commerce channels. That led to the birth of Shiprocket in 2017.
- Saahil studied at St Columba’s School, New Delhi, did computer science at Drexel University College of Engineering, Pennsylvania, and prior to founding Kartrocket, was a consultant in business & IT services firm SDLC Partners responsible for designing processes for the healthcare system. Gautam was business head at automation solutions firm JKE Automation.
- Shiprocket helps e-commerce businesses manage their shipping needs efficiently. The platform integrates with a wide range of marketplaces, shopping carts, payment partners, and govt-backed portals. It simplifies order processing, tracking, and management. “We leverage large-scale data, AI, and innovative workflows. We utilise data to enhance marketing campaigns and target audiences effectively. Key features like the courier recommendation engine will improve delivery success rates and reduce costs, while visual dashboards provide insights for informed decisions,” says Saahil.
- In 2023-24, the platform clocked $3 billion in gross merchandise value. It has raised about $300 million in funding and is valued at over $1 billion.
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