BranchX Makes Strategic Investment In Shipspot

BranchX, a fintech, said that it has acquired a 51 per cent equity stake in Shipspot a London-based ecommerce enabler that empowers brands to effectively distribute their goods across multiple online platforms.

Currently generating annual revenues of Rs 8,800,000. Shipspot is poised for significant growth. With the integration of BranchX technology, the company anticipate expanding revenues fivefold within the next 12 months, capitalising on a minimum net margin of 12 per cent. The company said that this partnership is crucial as it aims to penetrate new markets and validate our technology's readiness for global commerce.

The Shipspot team is led by Krishna Shenoy, who brings a wealth of experience in enterprise resource planning (ERP) and data analytics, as per the media reports. He has worked extensively with systems applications and products in data processing (SAP), focused on data analytics for the supply chain at Coca-Cola, served as the Head of Data for Buhler, and is currently the product manager for artificial intelligence implementation and digital solutions at Andritz, a global supplier of manufacturing plants, equipment, and automation solutions. His expertise will be instrumental in driving the company’s growth strategy.

Sajid Jamal, Co-founder, gave a reference to a concept, “when material flows, money flows, and data flows.” He added that he firmly believes in this concept, and his implementation strategy aligns seamlessly with this thesis. They look forward to driving innovation and success together with Shipspot.