Gurugram based Logistic start-up Delhivery freezes its Series-F funding from Japanese investment firm Softbank. American multinational private equity firm – The Carlyle Group & Chinese investment company – Fosun was also part of this investment. These two firms were also involved in the Series-E funding round in May 2017.
After the recent funding round at a valuation of $1.5 Bn, Delivery has stepped into the Unicorn club. The company was founded in 2011 by Kapil Bharti, Suraj Saharan, Sahil Barua, Bhavesh Manglani, Mohit Tandon & Ada Bharati with the initial funding by an Angel Investor – Abhishek Goyal.
During the journey, the company went through eight funding rounds and had raised total funding of $666 Mn till date. Tiger Global Management, Times Internet, Multiples Equity & Nexus Venture Partners are also on the table of key investors.
After the approval of CCI India to acquire the stack in Delivery, Softbank made this investment.
@CCI_India approves acquisition of 22.44% of the total share capital of Delhivery Pvt. Ltd. (on fully diluted basis) by SVF Doorbell (Cayman) Ltd
— CCI (@CCI_India) February 27, 2019
Status of Delhivery
- The company is covering 15000 pin codes in India.
- Approx 21,000+ employees are associated with the company.
- Growing at the average growth rate of 65% since 2015.
- Recently witnessed a rise of 42% in its revenue in FY 2018.
- Delivered more than 450 million packages till date, and have the capacity to deliver one million in a day.
- The company is in partnership with many e-commerce sites such as Flipkart, Paytm and SnapDeal etc.
- Delhivery has its investment in 3 companies; QikPod, Opinio, and Parcelled.
- Last month it takes over the India business of Dubai based logistic company Aramex.
- Delhivery is in direct competition of XpressBees, Ecom Express, eKart, go Javas and Blue Dart.
Utilization of funds
The company is planning to utilize its funds in the expansion of its reach to 20,000 pin codes in the next few months. According to Sahil Barua; the CEO of Delhivery, The company has an eye on the enhancement of partnership in India and forge global alliances.
Fresh funds to be invested in e-commerce partnerships and end to end supply chain system. The focus is mainly on making transport operations more efficient, reliable and in the reach of maximum partners and users.
Our investment in Delhivery reflects our focus on partnering with innovative market leaders.
– Munish Varma, partner, SoftBank Investment Advisers
The logistics sector is expected to touch a market ceiling of $215 billion by next year with the average growth rate of 10% says India Brand Equity Foundation (IBEF).
Our investment in Delhivery reflects our focus on partnering with innovative market leaders. Over the years, Delhivery has demonstrated industry-leading growth and emerged as the one-stop solution for ecommerce logistics.
– Munish Varma