Indian logistics huge Delhivery raises $277 million ahead of IPO


Delhivery, India’s biggest independent e-commerce logistics start-up, has actually raised $277 million in what is anticipated to be the last financing round prior to the company applies for an IPO later on this year.

In a regulative filing, the Gurgaon-headquartered start-up divulged it had actually raised $277 million in a round led by Boston-headquartered financial investment company Fidelity. Singapore’s sovereign wealth fund GIC, Abu Dhabi’s Chimera, and UK’s Baillie Gifford likewise took part in the brand-new round, a name * of which the start-up didn’t define.

The brand-new round valued the 10-year-old start-up at about $3 billion. Delhivery– which likewise counts SoftBank Vision Fund, Tiger Global Management, Times Internet, The Carlyle Group, and Steadview Capital amongst its financiers– has actually raised about $1.23 billion to date.

Delhivery started its life as a food shipment company, however has actually given that moved to a complete suite of logistics services in over 2,300 Indian cities and more than 17,500 postal code.

It is amongst a handful of start-ups trying to digitize the need and supply system of the logistics market through a freight exchange platform.

delhivery platform 1

Research and image: Bernstein Its platform links shippers, representatives and truckers using roadway transportation services. The start-up states the platform minimizes the function of brokers, makes a few of its possessions such as trucking– the most popular transport mode for Delhivery– more effective, and makes sure round the clock operations.

This digitization is vital to deal with the inadequacies in the Indian logistics market that has long stunted the nationwide economy. Poor preparation and forecasting of need and supply increases the bring expenses, theft, damages, and hold-ups, experts at Bernstein composed in a report last month about India’s logistics market.

Delhivery, which states it has actually provided over 1 billion orders, deals with “all of India’s biggest e-commerce business and leading business,” according to its site, where it likewise states the start-up has actually dealt with over 10,000 consumers. For the last leg of the shipment, its carriers are designated a location that never ever goes beyond 2 sq km, permitting them to make a number of shipment runs a day to conserve time.

Indian logistics market’s TAM (overall addressable market) is over $200 billion, Bernstein experts stated.

The start-up stated late in 2015 that it was preparing to invest over $40 million within 2 years to broaden and increase its fleet size to satisfy the growing need of orders as more individuals store online amidst the pandemic.

(* Indian news outlet Entrackr, which initially reported on the filing, recommended it’s a Series H round. According to insight platform Tracxn, there is no record of a Series G round for Delhivery. The start-up didn’t discuss Sunday.)



Asia, Baillie Gifford, chimera, Delhivery, Fidelity, Funding, GIC, india, Logistics, Rivigo, Softbank, Softbank Vision Fund, tiger global, Tiger Global Management, Times Internet

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