Rocketfuel D2C Accelerator X Startup India Initiative at Invest India invites new-age D2C startups across the country to apply for a 3-month program
A cohort of 10 breakout startups will receive cash grants, shipping credits and an opportunity to get investments from Shiprocket and its fund partners
Startup India Initiative at Invest India, the guiding vision maker for India’s entrepreneurship ecosystem, has partnered with Shiprocket, India’s latest unicorn and leading eCommerce enabler to build D2C 2.0 together, backing the next generation of consumer products built by founders from across the country. The program will help accelerate D2C and eCommerce startups who have delivered early success and on-ground impact with products built by Bharat, for Bharat.
D2C startups can apply for the Rocketfuel D2C Accelerator hosted exclusively on the Startup India portal. Shiprocket will be offering INR 1 Lakh in cash grants to each of the shortlisted startups, in addition to the INR 50,000 provided in shipping credits on an immediate basis and provide an opportunity to get investments up to INR 50 Lakhs from Shipprocket and its fund partners.
During the 3-month accelerator program, Shiprocket will support the D2C startups with top-tier privileges for logistics and eCommerce services, providing shipping credits that can be used on its platform. Additionally, startups will gain access to D2C Verse, a pan-India D2C community of key startups and investors and receive one-on-one mentorship from the leading minds of the industry. The shortlisted startups will also benefit immensely from Startup India’s guidance and pan-India reach.
Speaking on this, Saahil Goel, Co-Founder and CEO of Shipprocket said “Startup India is one of the largest platforms for startups and entrepreneurs in India. With their support, Shiprocket can further propel the growth of early-stage D2C and eCommerce startups across the length and breadth of all emerging markets in India. Our aim is to create a support system that caters to not just the monetary requirements of companies but one that encompasses all aspects of the business. This collaboration with Startup India is one step towards achieving that goal.”
Mr. Deepak Bagla, MD & CEO, Invest India, said: “The excellence of Indian ingenuity has been at the forefront who are developing impactful frugal solutions as India’s strength. As we move towards an Atmanirbhar Bharat, envisioned by the Hon’ble Prime Minister, it becomes imperative to ensure that India builds on these strengths and this challenge will help D2C founders to distribute their impactful products in more and more households across the country.”
Applications for the program are open till 15th September 2022and the results will be declared on 28th September 2022.
About Invest India
The most awarded investment promotion agency in the world, Invest India is the advisor, guide, and facilitator to every investor looking to make a home in India. We are the first point of contact for global companies whom we handhold from the day they explore start India and at every step of the way throughout their liberal journey in the world’s most investment destination.
Shiprocket is India’s largest eCommerce enabling platform providing digital retailers an end-to-end customer experience platform. The platform creating an operating system for direct commerce enables shipping, fulfillment, customer communication and marketing tools as well as providers for SMEs, D2C retailers, and social commerce retailers in India. With 17+ courier partners on board, the brand permits pan-India as well as international shipping deliveries. Its shipping solutions are available across 24,000+ pin codes within India and 220 countries worldwide.
Launched in 2017, Shipprocket is on a mission to create a seamless logistics data platform that connects retailers, carriers, and consumers across national and international locations. Shiprocket provides a technology stack to help retailers integrate their shopping websites on Shopify, Magento, WooCommerce, Zoho, and others with the platform’s multi-carrier API to manage orders, prints, and shipping labels. It also avails tracking information from multiple providers, including managing Cash on Delivery (COD) orders and payment reconciliation. Shipprocket also offers state-of-the-art fulfillment solutions with more than 45 warehouses located across India. The technology stack provides a robust post-purchase experience to consumers resulting in higher engagement and lower RTO (failed deliveries).
Today, Shiprocket is the platform behind more than 2.5L sellers who generate a GMV of more than $2.5B annually. The platform delivers packets to more than 70M consumers annually and is growing transactions 2.5-3X year on year.