Delhivery, a platform that helps logistics companies, raises $277 million. It is working with all of India’s largest e-commerce firms. A major part of its work is to digitize the demand and supply system for the logistics market. The company is courting a major investor, and it is rumored that it will go public.
Delhivery raises $277 million
Delhivery, a leading supply chain services company in India, has raised $277 million in its latest round of funding. The round was led by US investment firm Fidelity Investments and also included Singaporean sovereign wealth fund GIC and Abu Dhabi’s Chimera Investments.
Delhivery started out as a small food delivery company in 2011. Since then, it has grown into one of the largest independent e-commerce logistics companies in the country. It serves over 10,000 customers and has completed over 1 billion orders. Now, the company offers a full suite of supply chain services, including warehousing, shipping, and fulfillment.
Delhivery works with a wide range of clients, from large e-commerce participants to smaller, local businesses. It provides pick-up and delivery services across India. Moreover, it aims to expand its operations to neighboring nations.
Company seeks to digitize demand and supply system of logistics market
Delhivery is one of the few startups attempting to digitalize the logistics market through a freight exchange platform. The company operates in over 17,500 zip codes, including some of the world’s most densely populated urban centres. Its core offerings include road transport solutions for the enterprise, e-commerce logistics, and transportation and logistical services for the country’s growing number of start-ups and large enterprises alike.
The startup is aiming to raise up to $998 million in a planned initial public offering. In March, it reported a $56 million loss on a $514 million revenue. Nevertheless, it plans to use the remaining capital to buy up existing shares.
It’s rumored to be heading for an IPO
Delhivery is a fast-growing Indian logistics company. It provides a range of services like freight and express parcel delivery. The firm operates in over 2,300 cities across India. It has a total of 23,113 active customers.
Delhivery has received financial backing from SoftBank Vision Fund and Carlyle Group. As part of its IPO, the company plans to raise up to $998 million.
Aside from its own investment, the company also receives support from FedEx Express. Delhivery is one of the handful of startups that are attempting to digitize the logistics market.
Delhivery’s logistics platform connects agents, consigners, and truckers providing road transport solutions. As of December 2021, the company had provided its services to 17,488 PIN codes in India.
It works with all of India’s largest e-commerce companies
Delhivery is a Gurgaon-based startup that aims to revolutionize logistics with a slick platform that connects couriers and trucking companies to online retailers and offline retailers. The company’s network of eleven fulfillment centers is one million square feet, but it has more than 18,000 zip codes across 2,300 cities. It’s been around since 2012 and processes over three million orders a month.
The company has a lot of competitors, but it’s worth noting that it counts SoftBank, Tiger Global and FedEx among its investors. As such, it’s a major player in the logistics game.
The company has already raised nearly $2 billion from investors in a series of rounds. The company plans to use a portion of its remaining capital to buy up its existing shares.
It’s courted a high-profile investor
Delhivery is a leading provider of e-commerce logistics and freight services in India. In its three years of operation, it has established a strong presence in almost all the major Indian cities. It offers four types of services – TL and PTL freight, express parcel delivery, and heavy goods delivery.
The company has raised over $277 million in funding so far. But SoftBank has been a hefty investor. SoftBank has invested more than $14 billion in India in the past five years.
SoftBank’s investment in Delhivery follows a number of other SoftBank bets in India. For example, the Japanese firm has a major stake in Paytm, Oyo, and Ola, as well as executive education firm Eruditus.
Its platform reduces the role of brokers
Delhivery is India’s largest fully integrated logistics services platform. It offers supply chain, fulfillment, and data services to consumers and businesses. It operates a network of 125 large logistics facilities and 83 fulfillment centers. The company has a strong nationwide network in every state of the country.
Delhivery offers a wide variety of logistics services including truckload freight, express parcel delivery, and reverse logistics. It is backed by SoftBank Vision Fund, Tiger Global Management, and Carlyle Group.
In its 10-year existence, Delhivery has delivered over 1 billion orders. It has a nationwide network of over 2,300 Indian cities and towns. Its platform reduces the role of brokers and allows companies to focus on their core business.