E-commerce logistics company Delhivery raises $277 mn ahead of IPO

31 May '21

1 min read

Pic: Delhivery

Indian e-commerce logistics company Delhivery has raised $277 million in its funding round ahead of going public. The round was led by US-based investment firm Fidelity along with Singaporean Investment Corporation GIC, Scotland’s Baillie Gifford and Abu-Dhabi-based asset manager Chimera Capital. The 10-year-old company is now valued at $3 billion.

Delhivery will use the fresh capital for expanding its business, said media reports quoting the latest regulatory filings. The recently concluded investment round was the final round for the company before it goes public in 2022.

Some of the other investors of the company include SoftBank Vision Fund, Tiger Global Management, Times Internet, The Carlyle Group, and Steadview Capital. Delhivery has raised over $1.23 billion till date.

Global fund Steadview Capital had bought $25 million worth of secondary shares from an early investor in Delhivery last year.

Delhivery boasts of a nationwide network that touches over 17,500 pin codes and 2,300 cities. It offers a full suite of logistics services such as express parcel transportation, LTL and FTL freight, reverse logistics, cross-border, B2B and B2C warehousing, and technology services. The logistics company works with over 10,000 direct customers, including large and small e-commerce participants, SMEs and over 450 leading enterprises and brands.

Fibre2Fashion News Desk (KD)

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