e-commerce shipping solution Shiprocket to acquire 75% stake in Wigzo Tech

Zomato-backed Shiprocket is all set to acquire a 75% stake in Delhi-based Wigzo Tech which operates an enterprise automation suite for a valuation of around $20-25 million, according to sources privy to the development.

The deal will have around 60% secondary and 15% primary components and is likely to help Shiprocket build a full-stack solution for its merchants to drive better logistics.

All the existing investors of Wigzo including Mahandas Pai-backed 3one4 Capital and Advantedge Partners besides angels investors would be exiting the company following the deal.

Wigzo was founded in 2013 by Umair Mohammed and Himanshu Kaushik. It offers marketing automation platform e-commerce stores. Its solutions allow brands to personalize communication across multiple channels through a single dashboard. It uses data analysis and machine learning to help its clients communicate with their customers in a personalised manner. As per its website, it has over 1,000 clients.