diff --git a/CHANGELOG.md b/CHANGELOG.md
index 337b89c413..21fa669951 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,39 @@
+## 2.38.0 (2024-07-05)
+
+### Highlights
+
+- chore(react-lottie-player): moved to externals for esm module (88fc0af4)
+
+### Breaking changes
+
+- chore(react-lottie-player): moved to externals for esm module (88fc0af4)
+
+### Migration guide
+
+- If relying on ESM build, install `@lottiefiles/react-lottie-player` for animation related components.
+
+### Deprecations
+
+NA
+
+### Features
+
+NA
+
+### Fixes
+
+NA
+
+### Improvements
+
+NA
+
+### Documentation
+
+NA
+
+---
+
 ## 2.37.1 (2024-07-04)
 
 ### Highlights
diff --git a/package.json b/package.json
index 7e487cff63..b7626b0084 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@innovaccer/design-system",
-  "version": "2.37.1",
+  "version": "2.38.0",
   "description": "React components library project for Innovaccer Design System",
   "main": "dist/index.umd.js",
   "module": "dist/index.esm.js",