Delhivery, a logistics-centered startup with primary focus on enabling ecommerce businesses, has gulped in $85 million in a Series D round, led by Tiger Global Management. The round also saw participation from existing investors; Multiples Alternate Asset Management, Nexus Venture Partners, and Times Internet Limited.
With this newly raised amount, the company is now planning to build on a more robust infrastructure, which is currently equipped to handle over 90,000 transactions daily and 15,0000 SKUs. The startup is also going to design new series for eCommerce businesses with specialized requirements. The funds will also be used used to expand services such as cataloguing, warehouse management and shipping to West Asian and African markets as well as India’s immediate neighbours in South Asia.
Founded in 2011 by a team of five co-founders (Sahil Barua, Kapil Bharati, Bhavesh Manglani, Suraj Saharan and Mohit Tandon), Delhivery has developed an end-to-end suite of omni-channel solutions which include includes management tools for global inventory, distributed order management, channel integration, customer engagement, campaign creation and management, fulfilment management and demand and channel analytics.
Including the current round, Delhivery has now raised a staggering $127.5 million in four funding rounds from Times Internet Limited, Nexus Venture Partners, Multiples Alternate Asset Management and Tiger Global Management. It just raised $35 million in a Series C round eight months ago.
Currently, the company has more than 10,000 employees in over 200 cities and 11 fulfillment centers. It plans to enter India’s rural market and is expecting a four-fold increase in its current reach.
As per the company, it handles over three million monthly transactions for 70,000 plus merchants, 1,500 e-commerce companies and 200 offline retailers across its network.
Lee Fixel, Partner, Tiger Global, said,
Delhivery 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. We are excited to be a part of this growth story, which aims to fulfill all the rapidly growing online demand for products in India.
Logistics focused startups have started to come up pretty rapidly to consume the logistical needs of India’s demanding and ever expanding line-up of e-commerce brands. Amazon India recently kicked off its own delivery arm to deliver products across all of its operational cities.
Snapdeal too acquired a stake in GoJavas, a startup similar in function to Delhivery, adn working to help businesses with their logistical requirements.