Logistics firm Delhivery raises $277 million, now valued at $3 billion

Ahead of its initial public offering (IPO) this year, supply chain services provider Delhivery has reportedly raised $277 million in its latest round of funding, taking its market valuation to nearly $3 billion.

According to a TechCrunch report, Delhivery disclosed the finding in its latest regulatory filing that has been led by US-headquartered investment firm Fidelity.

Other investors reportedly are “Singapore’s sovereign wealth fund GIC, Abu Dhabi’s Chimera and UK’s Baillie Gifford”.

When contacted, Delhivery refused to comment on the funding at the moment.

Delhivery, a leading fulfillment platform for digital commerce, has raised about $1.23 billion to date.

Earlier this year, Delhivery 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.

It currently has more than 350 employees and centres in Gurgaon, Goa, and Hyderabad (in India), and Seattle in the US.

“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.

Delhivery currently provides supply chain services at over 17,500 pin codes across 2,300 cities.

It has fulfilled over 850 million transactions since inception and works with over 10,000 direct customers, which includes large and small e-commerce participants, SMEs, and leading enterprises and brands.

–IANS

na/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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