Valuation: $3 billion! Indian e-commerce logistics company Delhivery raises $277 million

According to Indian media reports, Delhivery, India's largest independent e-commerce logistics startup, has successfully raised US$277 million .

The company disclosed the funding in its latest regulatory filing, saying it had raised $277 million in a new round of funding led by Boston-based investment firm Fidelity . Singapore sovereign wealth fund GIC, Abu Dhabi's Chimera and Britain's Baillie Gifford also participated in the new round of financing .

The new round values ​​the 10-year-old startup at about $3 billion. The company, which also counts SoftBank Vision Fund, Tiger Global Management, Times Internet, Carlyle Group and Steadway Capital among its investors, has raised about $1.23 billion to date.

Delhivery started out as a food delivery company, but now has a full range of logistics services in more than 2,300 Indian cities and more than 17,500 postal codes. Delhivery says it has delivered more than 1 billion orders.

It is one of the few startups trying to digitize the supply and demand system of the logistics market through a freight trading platform.

The Delhivery platform connects shippers, agents and truckers to provide road transport solutions. The startup said it reduces the role of brokers, improves efficiency of assets such as trucking (the most popular mode of transport) and ensures 24-hour operations.

This digitization is crucial to addressing the inefficiencies in India’s logistics sector, which have long hampered the development of the national economy. Poor planning and forecasting of supply and demand, increased transportation costs, theft, damage and delays have become a major factor dragging down India’s logistics market, which Bernstein analysts say has a total potential market size of more than $200 billion.

Delhivery said at the end of last year that it plans to invest more than $40 million in two years to expand and scale its logistics to meet the needs of more and more people shopping online during the epidemic. This financing will enable it to obtain sufficient funds for development and further plans.

India

logistics

Financing