Zomato-backed logistics provider, Shiprocket has turned into a unicorn after raising Rs 259 crore (roughly $32.6 million) in a funding round which valued the company at over $1.2 billion, regulatory filings sourced via Tofler showed.

According to the filings, Shiprocket has issued 59,793 compulsory convertible preference shares (CCPS) at a premium, in an extended Series E round. Existing investors like Temasek, Bertelsmann Nederland, Moore, Huddle Collective, PayPal and Lightrock were issued fresh shares.

The company has now entered the unicorn club, which has over 100 firms. The fresh capital infusion comes shortly after Zomato led Shiprocket’s $185 million fundraise which valued the logistics solution provider at about $930 million in December.

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Just before Shiprocket, 5ire raised $100 million in its Series A round which valued the blockchain-focused company at over $1.5 billion, according to Tracxn data.

After Shiprocket’s entry, there are 20 companies which have turned entered unicorns, or privately held entities valued at over $1 billion, so far in 2022. In the whole of 2021, India had minted 47 unicorns. Venture Intelligence shows there are 101 unicorns at present in the country.

Shiprocket’s website claims the company dispatches over 2 lakh orders every day, buoyed by strong demand in the direct-to-consumer (D2C) sector and several e-commerce companies looking to strengthen their supply chains to deliver to the mushrooming demand in non-metro cities. Shiprocket has partnered with at least 12 logistic companies to deliver 29,000 pin codes to about 220 destinations globally.

The company also had over 30 warehouses as of July and plans to more than double that to 70 by the end of this financial year. Shiprocket currently delivers about 60% of its orders in 24-48 hours and is working on fulfilling 70% of its orders within that time range, Pickrr – a group company — had told FE in an interaction earlier.

In the same interaction, Pickrr mentioned Shiprocket is also exploring the idea of acquiring two-three companies over time. That after it has already acquired Omuni, Pickrr, Wigzo, Glaucus logistics, Rocketbox, Rocket.

Shiprocket was founded by Saahil Goel, Vishesh Khurana, Gautam Kapoor, and Akshay Gulati in 2017.