Wigzo Tech delivers an enterprise automation package that provides insight into client purchase habits.
Zomato-backed Shiprocket said on January 7 that it is preparing to buy a 75% ownership in Delhi-based Wigzo Tech, which delivers an enterprise automation package that gives intelligence on client purchase behavior.
While Shiprocket did not disclose the value of the transaction, insiders estimated it to be between $20 and $25 million (Rs 148.6-185.8 crore).
This development was first revealed by Moneycontrol earlier this week.
The agreement will assist Shiprocket in expanding its product stack for online merchants using its platform and creating a more personalized end-to-end consumer experience.
Shiprocket specializes in utilizing delivery-behavior data for end-to-end logistics.
The direct-to-consumer (D2C) market in India is now seeing rapid growth. The country already boasts over 10,000 direct-to-consumer brands, with the market expected to reach $100 billion by 2025.
“For direct-to-consumer brands, harnessing data can be critical to gaining a competitive advantage. Modern consumers are driven to brands that adapt their purchasing experience to their specific needs. This is where Wigzo is making a difference in assisting D2C brands” Saahil Goel, co-founder, and CEO of Shiprocket stated
“With its core CDP rails and other applications like business intelligence, consumer behavior, data analytics, and automated support, Wigzo delivers a cutting-edge platform that enables every D2C brand to create personalized and individualized experiences for their target customers,” he continued.
Wigzo, founded by Umair Mohammed, Himanshu Kaushik, and Mohammed Atyab, claims to have over 400 e-commerce and direct-to-consumer clients, including Leaf Studios, Power Gummies, and Swatantra Clothing.
Shiprocket secured Zomato as an investor last year when it agreed to raise $185 million in a Series E investment headed by the food delivery service and Singapore’s sovereign wealth fund Temasek. This is anticipated to be one of Shiprocket’s first acquisitions after raising the funding.