Gurgaon-based ecommerce-focussed logistics company Delhivery on Wednesday raised $85 million in Series D funding led by Tiger Global Management, besides participation from existing investors, Multiples Alternate Asset Management, Nexus Venture Partners, and Times Internet Limited.
Delhivery was founded in 2011 by Sahil Barua, a former Bain and Company employee along with Mohit Tandon, Suraj Saharan, Bhavesh Manglani and Kapil Bharati.
The company offers services ranging from last-mile deliveries, third-party fulfilment, warehousing services and software solutions such as channel integration software for sellers selling across multiple platforms.
With this round of funding, Delhivery's total funds raised stands at over $125 million, which is the highest for start-ups in this space. With this war chest, the company's scale-up plans will get a booster shot and can push it far ahead of the other players.
As for its current scale, it handles over 3 million monthly transactions for 70,000-plus merchants, 1,500 e-commerce companies and 200 offline retailers. It has about 10,000 employees in more than 200 cities along with nearly 1 million sq. ft of warehousing space in 11 fulfilment centres.
With the current war chest raised by the company, it will expand across India's rural markets as well as invest further in over 2.5 million square feet of fulfilment centers across the country.
Delhivery leads the pack of start-ups offering ecommerce-specialised deliveries. Besides, there are other companies that have raised sizeable funding. Delhivery's closest competitor is ECOM Express, founded by ex-BlueDart employees. The company launched in January 2013 and has raised Rs 100 crore from Peepul Capital.
Then there are others like Holisol Logistics that started in 2009 and 2011-founded Quickdel Logistics, which runs the brand GoJavas. Snapdeal recently picked up a minority stake in Quickdel.
Read the most comprehensive coverage of ecommerce-focussed logistics companies here: Rush to the last mile