India’s e-commerce logistics start-up has raised $277 million in the latest round of funding, led by American firm Fidelity. This round of funding is expected to be the last ahead of the IPO funding planned for later this year. After this round, the decade-old start-up will be valued at $3 Billion.
Other big players also participated in the same round of funding, like Chimera based out of Abu Dhabi, Singapore’s GIC and, and UK’s Baillie Gifford also participated in this round. Delhivery also counts Times Internet, Tiger Global Management, SoftBank Vision Fund, The Carlyle Group, and Steadview Capital among its investors. With the help of its investors, it has raised about $1.23 billion to date.
What started as a food delivery system shifted to logistics full-time, making its presence across 2,300 cities countrywide and over 17,500 zip codes. Delhivery will also be investing $40 Million to expand its fleet size in order to cater to the growing demand of the pandemic.