Logistics startup Delhivery Pvt. Ltd has entered the coveted unicorn membership Sunday as a result of it secured the financing of $413 million (Rs 2,890 crore) in its latest funding spherical led by Japanese investor SoftBank Imaginative and prescient Fund, the company launched Sunday.
Present patrons Carlyle Group and Fosun worldwide moreover participated throughout the latest spherical of equity financing at Delhivery, elevating its valuation to larger than $1.5 billion.
The logistics agency moreover obtained a funding of $350 million from SoftBank earlier this month, as launched in its regulatory filings.
Moreover Be taught: Airbnb in talks to invest $100-200 million in OYO: Report
Delhivery has raised larger than $400 million in its latest spherical of equity financing, which has been led by Japanese investor SoftBank, the Gurgaon based agency launched on Sunday.
“With these funds, Delhivery plans to shortly scale up its attain from 15,000 to 20,000 pin codes by first quarter of financial 12 months 2019-20, aggressively develop e-commerce market share funding, and develop its end-to-end present chain platform to enterprise prospects and SMEs (small and medium enterprises),” the company acknowledged in a press launch.
“We’re glad in order so as to add SoftBank as a key affiliate, and extra develop our partnership with Carlyle and Fosun as we assemble out our imaginative and prescient of constructing the working system for commerce in India.” the communication added.
Delhivery has plans to utilize the up to date capital raised to develop its presence to spherical 20,000 from 15,000 pincodes by the first quarter of FY20, develop its e-commerce market share funding aggressively and develop its end-to-end present chain platform to enterprise prospects and SMEs, it extra propounded.
“We may be scaling up our newer warehousing and freight suppliers via large investments in infrastructure and experience and world partnerships together with enhancing the attain, reliability and effectivity of our transportation operations and sharing these benefits with our prospects and companions,” Delhivery Chief Govt Officer Sahil Barua acknowledged.
As per the paperwork filed the company, SoftBank and Carlyle Group will now preserve 23.41% and 12.39% respectively in Delhivery
This deal underscores SoftBank’s third big-ticket funding in India this 12 months following its subsequent investments in Grofers and FirstCry.