Bengaluru: E-commerce Shiprocket logistics company on Friday announced the $ 185 million funding round led by Zomato, Temasek and Indian Lightrock.
But this development produced several controversies after the former Infosus CFO T V Mohandas Pai wondered, in a tweet, if there was a conflict of interest if the registered company invested in a startup where the founder of the registered company had invested.
The reference is for the founder of Zomato deepening the investment of shiprocket.
Goyal, however, quickly responded to the accusation, showed that he had said his personal investment of $ 100,000 in a ziprocket without zomato before Zomato stepped for investment.
He said this personal investment was one of the main reasons for Zomato, getting closer to Shiprocket and its founders, and that is “how we found that there was a long-term strategic potential between the two companies”.
He said they could continue to follow this personal investment strategy was attended by company investment.
Goyal also bacted Pai because it marked his tweet to Sanjeev Bikhchandani, founder of Edge Info, initial investors at Zomato, not to him.
Subramanian Shriram, founder of Ingovern Research Services, a company analysis of corporate governance, is not fully convinced by Goyal response.
He told TII that Zomato “should come to the investment quantum in Shiprocket by deepfer goyal and company, and whether it faltered from the board when deciding to invest in Shiprocket”.
Launched in 2017, Shiprocket creates a smooth logistics data platform that connects retailers, operators, and consumers in national and international locations.
The shipping solution is available at 29,000 PIN codes in India and 220 countries.
Zomato Funding from Logistics Shiprocket Sparks Row
