Delhivery raises $277 million, valuing it a $3 billion
Ahead of an IPO, Indian e-commerce logistics startup, Delhivery, has announced a $277 million funding round led by Fidelity.
This values the 10-year-old venture at around $3 billion.
Delhivery, which also counts SoftBank Vision Fund, Tiger Global Management, Times Internet, The Carlyle Group, and Steadview Capital among its investors, has raised about $1.23 billion to date.
In regulatory filings, it said the fresh capital would be used for the expansion of its business.
It started life as a food delivery firm and nowadays works across the likes of consumer electronics, fashion, FMCG, and select industrial sectors like auto.
Delhivery is currently present in 2,300+ cities and more than 17, 500 zipcodes in India, and has processed over a billion orders. It has 21 automated sort centres, 85+ fulfilment centres and 3,000 direct delivery centres.
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