Unicommerce, a leading e-commerce enablement SaaS platform backed by SoftBank, has acquired a significant stake in Shipway, a Gurugram-based e-commerce technology platform. With this strategic move, Unicommerce aims to strengthen its position in the competitive courier aggregation and shipping automation market, directly challenging the dominance of Shiprocket, the market leader in the space.
In the first tranche of the deal, Unicommerce has acquired a 42.76 per cent stake in Shipway for a cash consideration of Rs 68.4 crore (USD 8.14 million). The acquisition values Shipway, which is backed by IndiaMart, at approximately Rs 160 crore (USD19 million). Unicommerce plans to acquire the remaining stake in Shipway within a year, either through a merger or a stock swap.
Shipway has experienced significant growth over the past few years, expanding its offerings with products like Shipway Xperience and the ConvertWay SMS-WhatsApp marketing tool. With its robust growth and key partnerships with leading brands such as Durex, Lenskart, Juicy Chemistry, Tresmode, Dot & Key, Amante, Libas, and Sennheiser, Shipway has built a strong footprint in the e-commerce logistics sector.
The acquisition is set to benefit both Unicommerce and Shipway. Unicommerce, which already serves over 4,000 clients, will now be able to cross-sell Shipway’s courier aggregation and shipping automation services to its vast customer base. Meanwhile, Shipway will gain access to Unicommerce’s 3,000 strong partner network, expanding its reach and service offerings.
Unicommerce’s acquisition of Shipway also marks an important strategic shift in the e-commerce logistics and courier aggregation space, which has long been dominated by Shiprocket, a company backed by Zomato. Despite other similar products emerging in recent years, none have been able to challenge Shiprocket’s leadership, largely due to the significant funding and resources backing the Delhi-based unicorn. However, with Unicommerce’s backing, Shipway now has the capital and support needed to compete more effectively against Shiprocket and other rivals.
Unicommerce, which went public in August 2024, reported a revenue of Rs 29.3 crore in Q2 FY25, with a profit after tax of Rs 4.4 crore. The company has been a key player in e-commerce enablement, collaborating with leading brands, marketplaces, and logistics providers to offer end-to-end management solutions for online retail operations. In addition to its strong presence in India, Unicommerce is expanding its footprint in the Middle East and Southeast Asia (SEA).
As Unicommerce strengthens its position through the Shipway acquisition, all eyes will be on how the competitive landscape in the courier aggregation and e-commerce logistics space evolves, with both Unicommerce and Shiprocket vying for market leadership in the coming months.
