Delhivery raises $413 Million in Series F funding round led by Softbank Vision Fund
Delhivery succeeded to raise $413Million in a series F funding round led by Softbank Vision Fund.
Softbank invested$350 Million of the total$413 Million funding.
Delhivery has 30 fulfillment centers in 12 cities for B2C and B2B services.
Gurugram based Logistics Company Delhivery Pvt. Ltd has finally closed its series F funding round. After 4-5 months of negotiations with the investors, Delhivery succeeded to raise $413 Million in this round. The round is led by Japanese Conglomerate Softbank Vision Fund. It contributed $350 Million of the total $413 Million funding. Existing investors Fosun international and Carlyle also participated in the round. The company is planning to use raised funds to explore its operations to 20,000 pin code areas from 15,000 during the April-June quarter. It is also going to use the funds to grow its e-commerce market share and expand its end-to-end supply chain platform to small and medium enterprises and enterprise customers
Softbank earlier this year had received approval from competition commission of India for investing in Delhivery and recently it has also got regulatory approval.
According to MCA filing of Delhivery SoftBank owns a stake of 23.41% in the company while Carlyle holds 12.39%. This huge investment of SoftBank in Delhivery is its third big investment in India in 2019 after online grocery startup Grofers and baby products e-tailer FirstCry.
According to Sahil Barua, Delhivery CEO and co-founder, Company is going to invest raised amount in infrastructure and technology to enhance newer warehousing and freight services. The firm is also focusing to improve the reach, reliability, and efficiency of its transportation operations.”
Delhivery came into action in 2011. It was previously known as SSN Logistics Pvt. Ltd and is founded by Kapil Bharti, Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Sahil Barua. It initiated its operations as a company providing local on-demand services and subsequently became a full-fledged logistics services provider. Now the logistics major has about 30 fulfillment centers in 12 cities for B2C and B2B services. It is the most funded logistics firm of India. It is funded by Tiger Global a US-based investment firm, private equity firms Carlyle and Multiples Alternate Asset Management, Times Internet Limited, Nexus Venture Partners and Fosun.
In the financial year 2017-18, Delhivery reported a 38% rise in operating revenue to Rs 1,023.05 crore from Rs 743.70 crore the year before. Total expenses rose 27% to Rs 1,765.73 crore from Rs 1,393.54 crore. Net loss widened to Rs 692.21 crore from Rs 637.83 crore.
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