Shipsy, a logistics software as a service provider, has completed the acquisition of Stockone, a cloud-based warehouse management system and inventory management solution provider, as part of its strategy to expand its product offerings.

Rajan Ekambaram, Co-Founder & CEO of Stockone, shared in an interview with CNBC-TV18 that the backing from Shipsy offers an enormous growth opportunity, not only in India but also internationally.

Ekambaram highlighted that Stockone will retain its independent status and is committed to doubling its annual revenue in the coming years by developing innovative warehousing solutions with global applicability.

The expanded product suite will provide a comprehensive logistics management experience, covering transportation, warehouse management, and fulfillment. This unified platform will empower businesses to optimise logistics costs, enhance customer experiences, and automate their operations.

Soham Chokshi, Co-Founder & CEO of Shipsy, mentioned that Stockone boasts a substantial customer base in the Middle East, Africa, and India, with impressive year-on-year growth of over 80% in recent years. He also expressed Shipsy's aspirations to achieve profitability within the next year.

Watch accompanying video for entire conversation.