E-commerce logistics startup Delhivery raises $277 Mn at estimated $3 Bn valuation

Ahead of the Initial Public Offering (IPO), supply chain services provider startup Delhivery has raised $277 million. The Gurgaon-headquartered startup disclosed the funding in its latest regulatory filing that has been led by US-headquartered investment firm Fidelity while the other investors reportedly are "Singapore's sovereign wealth fund GIC, Abu Dhabi's Chimera and UK's Baillie Gifford". With this funding, which is expected to be the last one before the IPO, scheduled later this year, the current valuation of the company stands at almost $3 billion. 

Delhivery on the path of expansion?

The startup, which presently has over 350 employees, and centers in Gurgaon, Goa, and Hyderabad (in India), and Seattle in the US, earlier this year announced to expand its footprint by opening two new tech offices in Bengaluru and Ahmedabad, that will take its workforce strength to more than 500 employees in the country. The startup also has plans to invest $40 million in two years to expand and increase its fleet size as orders grow amid the COVID-19 pandemic.

"The current expansion ensures we stay ahead of the curve with tech and data science being the core business differentiators," said Kapil Bharati, Co-founder, and CTO, Delhivery.

Founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati, Delhivery is an Indian supply chain services provider. The company, which started from scratch with many skeptical about its future, today enjoys a customer base of  10,000 direct customers, which includes large and small e-commerce participants, SMEs, and leading enterprises and brands. The company, which currently provides supply chain services at over 17,500 pin codes across 2,300 cities, has fulfilled over 850 million transactions since its inception. 

(Credit-Dayski/@Delhivery-Twitter)