Logistics Platform Shipsy Acquires Stockone
Warehouse Management Startup to Bolster Offerings
UAE-based SaaS provider Shipsy has acquired Stockone, an Indian cloud-based warehouse management system (WMS) and inventory management solution provider, for an undisclosed amount. The acquisition will enable Shipsy to expand its product portfolio, optimise its operations and bolster warehousing capabilities.
The extended product suite will offer logistics management across transportation, warehouse management, and fulfilment. This will help businesses to optimise logistics costs, deliver impactful customer experiences, and automate operations, all from a single platform.
“With more than 220 enterprise customers, Shipsy processes around 150 million shipments monthly and tracks 650,000+ containers every month, and the recent addition of the new WMS and inventory management capabilities comes as a strategic extension to the existing product suite capabilities, perfectly complementing Shipsy's core offerings," said Soham Chokshi, CEO and Co-Founder of Shipsy in a company press statment.
"It strategically aligns with our vision to provide scalable, efficient, and automated end-to-end logistics management solutions to our customers, covering warehousing, transportation, order fulfilment, and operational management," added the statment.
Rajan Ekambaram, CEO and Co-Founder of Stockone, said in a company statment, "Combining WMS, TMS, and end-to-end supply chain execution capabilities ensures seamless experiences and creates significant value for enterprise customers. We aim to optimise costs, improve service levels, and automate operations for businesses."
Read More: 6 Simple Growth Hacks for Startups
Shipsy acquiring Stockone strengthens its position in the logistics technology landscape and sets the stage to streamline operations for rapidly evolving modern commerce. It resonates with the global shift towards eco-friendly, efficient logistics solutions, and enables businesses to serve customers prioritising sustainability and operational efficiency.
The development comes more than a year after Shipsy raised a funding of $23.89 Mn from names such as A91 Partners, Sequoia’s Surge, and Info Edge in February last year.
Founded in 2015, Shipsy offers a full-stack platform for enterprises to manage end-to-end logistics requirements, and claims to have more than 220 enterprise clients under its belt.
