Indian e-commerce logistics startup Delhivery has raised $85 million in the Series D round led by Tiger Global Management along with other existing investors that includes Multiple Alternate Asset Management, Nexus Venture Partners and Times Internet Limited.
Gurgaon-based Delhivery is a top e-commerce fulfillment logistics focused startup that processes more than 3 million transactions per month for more than 70,000 merchants, 1,500 e-commerce companies and 200 online retailers. Founded in 2011, the company provides to its customers wide range of services that includes online channel integration services, strategic sourcing, catalogue management, express transportation, inventory management and lot more. Currently, the company has more than 10,000 employees working in more than 200 cities also with nearly one million sq.ft of warehouse facilities in 11 fulfillment centers. The new funding which has been raised in less than eight months of the previous round funding has increased the value of the company to $350 to $400 million.
Co-founder and CEO of the company Sahil Barua said the new funds would be spent to expand the e-commerce services like cataloguing, warehouse management and shipping to West Asian and African markets as well as India’s neighboring countries in South Asia. It is also planning to deploy its new capital to create new infrastructure, create services for hyper-local commerce, C2C commerce and other sectors that demand specialization like reverse logistics, furniture and grocery. It is also looking at penetrating rural market with a four-fold increase, by end of this year. Apart from these, it is also planning to expand its human resource.
Lee Fixel, Partner at Tiger Global said, “Delhivery has built its market-leading position by innovating extensively in its growing portfolio of commerce technologies while expanding its logistics infrastructure, fulfillment and transportation services. We are excited to be part of this growth story, which aims to fulfill all the rapidly growing online demand for products in India.”