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Logistics firm Delhivery raises USD 413 mn in funding round led by SoftBank Vision Fund

twitter-logo PTI        Last Updated: March 24, 2019  | 13:52 IST

(Eds: Correcting a word in headline) New Delhi, Mar 24 (PTI) Logistics company Delhivery Sunday said it has raised more than USD 400 million (Rs 2,766.82 crore) in a financing round led by the SoftBank Vision Fund. Carlyle and Fosun, both existing investors in Delhivery, have also participated in this round of financing, the company said in a statement. "With these funds, Delhivery plans to rapidly scale up its reach from 15,000 to 20,000 pin codes by first quarter of financial year 2019-20, aggressively grow e-commerce market share investment, and expand its end-to-end supply chain platform to enterprise customers and SMEs (small and medium enterprises)," the company added. "We are glad to add SoftBank as a key partner, and further expand our partnership with Carlyle and Fosun as we build out our vision of creating the operating system for commerce in India. "We will be scaling up our newer warehousing and freight services through large investments in infrastructure and technology and global partnerships in addition to improving the reach, reliability and efficiency of our transportation operations and sharing these benefits with our customers and partners," Delhivery Chief Executive Officer Sahil Barua said. SoftBank Investment Advisers Partner Munish Varma said Delhivery has demonstrated industry-leading growth and emerged as the one-stop solution for e-commerce logistics. PTI SVK HRS

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