||Logistic services firm Delhivery raises $85M to ride on Indiaâ€™s ecommerce boom
||Riding on the back of an ecommerce boom, India-based logistics service Delhivery raised a series D round of US$85 million led by Tiger Global Management. Last year, the company received US$35 million from Multiples Alternate Asset Management, Nexus Venture Partners, and Times Internet Limited. These investors have also participated in this round.
This has so far been the biggest deal for an ecommerce support venture in India.
Delhivery has a range of proprietary commerce technologies that theyâ€™ve built in-house to tackle logistics problems.
â€œDelhivery has built its market-leading position by innovating extensively in its growing portfolio of commerce technologies while expanding its logistics infrastructure, fulfilment, and transportation services,â€ says Lee Fixel, partner of Tiger Global.
The company has over 10,000 employees in more than 200 cities along with nearly a million square feet of warehousing space in 11 fulfilment centers. It handles over 3 million monthly transactions for 70,000 merchants and 1,500 ecommerce companies.
With the funding, it plans to tap into Indiaâ€™s rural market and build 2.5 million square feet fulfilment centers. The startup aims to expand its reach four-fold.
â€œWe will deploy this capital to build infrastructure and design services for ecommerce, hyper-local commerce, C2C commerce, and other verticals with specialized requirements such as reverse logistics, furniture and grocery,â€ said the companyâ€™s spokesperson.
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