Delhivery raises $30 million funding from Fosun International

Delhivery, one of the most prominent logistics startup, has raised $30 million capital from Chinese conglomerate Fosun International. The investment is in continuation of the large $100 million investment done by The Carlyle Group for a minority stake in the startup. It is probably the biggest investment in any domestic tech-focused logistics startup till date. The capital rush is a precursor to the significant potential of the tech based logistics and transport industry in the country citing robust online sales and the GST bill coming into effect starting 1st July’17.

Started by Sahil Barua, Mohit Tandon, and Suraj Saharan in 2011, the startup was an early mover into the supply chain logistics segment and counts prominent houses as its investors including Tiger Global Management, Multiples Alternate Asset Management, Nexus Venture Partners and Times Internet Limited. It currently claims to service more than 600 cities and ~8,500 pin codes. Delivery has 12 fulfilment centers for B2C and B2B fulfilment services and works with online ecommerce companies like Flipkart and Paytm.

With the domestic ecommerce industry expected to grow in double digits for the coming 5-10 years, the logistics partners will have an important place in that development. Moving away from the discounting practice, the players are now focusing on giving valued added services to the customers such as single day delivery. With Amazon Prime and Flipkart Fist as the prominent examples, the logistics startups such as Delivery have a whole world to conquer.