Evenflow ties up with AI-based logistics startup Shiprocket

In 2020, over 700,000 sellers signed up on Amazon India, making it the highest among any Amazon marketplaces globally, Evenflow said in the release.

deals
In 2020, over 700,000 sellers signed up on Amazon India, making it the highest among any Amazon marketplaces globally, Evenflow said in the release. (Representational image)

Evenflow, which specialises in growing e-commerce brands, has partnered with AI-based logistics startup Shiprocket for supply chain-related issues, a release said on Wednesday. Founded by former Uber executives Utsav Agarwal and Pulkit Chhabra earlier this year, Evenflow aggregates third-party sellers on e-commerce platforms and specialises in growing e-commerce brands from managing inventory, performance marketing, on-platform merchandising, cataloguing and even new product development. The sheer width of sellers across different categories is massive and is only growing year-on-year.

In 2020, over 700,000 sellers signed up on Amazon India, making it the highest among any Amazon marketplaces globally, Evenflow said in the release. Also, globally, third-party sellers on Amazon crossed USD 300-billion in gross merchandise value (GMV) and are expected to reach USD 650 billion in GMV by 2025, it said.

While they have good product portfolios, they do not have the expertise and capital to scale, where e-commerce aggregators become enablers, according to Evenflow. “Supply chain is the backbone for all e-commerce businesses. Shiprocket has positioned itself as a pioneer in fulfilment and last-mile logistics. We are excited to partner with them to bring the best practices from the industry to all the businesses we partner and work with,”said Utsav Agarwal, co-founder & CEO, Evenflow.

Shiprocket has created scalable solutions for the third-party seller ecosystem, he said, adding, “We are bullish on leveraging them to support multiple brands under our portfolio.” Shiprocket enables D2C sellers to deliver customer experience. To ease shipping, the brand aggregates leading courier partners on a single platform that helps sellers choose and compare all shipping options.

Besides, it offers other value-added technology services that the merchants avail, such as warehousing and fulfilments, packaging, revenue-based financing, among others.Vishesh Khurana, Co-founder, Shiprocket, said, “With this collaboration, we aim to strategically focus on reducing the risks involved in supply chain and work together to drive this common objective.” Evenflow helps businesses reach their full potential and Shiprocket looks forward to supporting them in this endeavour, Khurana added.

Evenflow is heavily focused on third-party sellers on marketplaces and acquires them at EBITDA multiples, not revenue multiples, as per the release.It has been acquiring third-party e-commerce sellers with attractive product portfolios and aims to establish them as solid brands across multiple categories in e-commerce, it stated.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.