Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Delhivery, ecommerce fulfilment company, has raised it’s whooping Series D round of investment of $85 Mn led by Tiger Global Management with participation from existing investors, Multiples Alternate Asset Management, Nexus Venture Partners, and Times Internet Limited.
This round for the company comes just 8 months after its Series C round which was led by Multiples Alternate Asset Management in September 2014.
“Delhivery’s ambition is to fulfill all of India’s online demand for products. We will deploy this capital to build infrastructure and design services for e-commerce, hyper-local commerce, C2C commerce and other verticals with specialized requirements such as reverse logistics, furniture and grocery”, said the company’s spokesperson.
“Delhivery has built its market-leading position by innovating extensively in its growing portfolio of commerce technologies while expanding its logistics infrastructure, fulfilment and transportation services. We are excited to be a part of this growth story, which aims to fulfill all the rapidly growing online demand for products in India.”said Lee Fixel, Partner, Tiger Global.
Satyan Gajwani who led Times Internet’s Series A investment in Delhivery said, “Delhivery’s growth has been phenomenal since we invested in 2012. Their growth is underpinned by an extensive range of proprietary commerce technologies that they’ve built in-house to tackle complex logistics problems far better than any other company in India.”
The company has over 10,000 employees in more than 200 cities along with nearly 1 Mn square feet of warehousing space in 11 fulfilment centers.
By the end of this year, the company plans to tap the India’s rural market as well with a four-fold increase in its current reach along with investment in over 2.5 Mn square feet of fulfilment centers. The company will also be investing heavily in expanding the senior management team and has already brought on Sandeep Barasia, ex-Bain and Company and Suraju Dutta, ex-FedEx, as Managing Directors.
Delhivery was founded in 2011 by Sahil Barua, Mohit Tandon, Suraj Saharan, Bhavesh Manglani and Kapil Bharati, it currently handles over 3 Mn monthly transactions for 70,000+ merchants, 1,500 ecommerce companies and 200 offline retailers across its network.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.