This supply chain startup has entered unicorn club with $400 million funding
Delhivery raised more than $400 million (Rs 2,766.82 crore), in its latest finance round, lead by SoftBank Vision Fund
The leading supply chain services and logistics company in India, Delhivery raised more than $400 million (Rs 2,766.82 crore), in its latest finance round, lead by SoftBank Vision Fund, a company based in Japan. The round of funding also included existing investors such as Carlyle and Fosun. Moreover, this seed funding round qualified Delhivery into the unicorn club of companies.
Initiated in 2011, the Gurgaon-based Delhivery caters to provide products and services for small businesses, enterprises and individual consumers. Their delivery services comes with scheduled pickups, track orders in real-time, manage returns and replacements with ease. Today, Delhivery serves over 3500 clients spread over 1700 cities, making 250 million shipments till date.
The company, after the developed stated, "With these funds, Delhivery plans to rapidly scale up its reach from 15,000 to 20,000 pin codes by first quarter of financial year 2019-20, aggressively grow e-commerce market share investment, and expand its end-to-end supply chain platform to enterprise customers and SMEs (small and medium enterprises)."
Delhivery Chief Executive Officer Sahil Barua added, " We are glad to add SoftBank as a key partner, and further expand our partnership with Carlyle and Fosun as we build out our vision of creating the operating system for commerce in India.We will be scaling up our newer warehousing and freight services through large investments in infrastructure and technology and global partnerships in addition to improving the reach, reliability and efficiency of our transportation operations and sharing these benefits with our customers and partners."
SoftBank Investment Advisers Partner Munish Varma said Delhivery has demonstrated industry-leading growth and emerged as the one-stop solution for e-commerce logistics.
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