IPO-bound Delhivery Raises $277 Mn From Fidelity, GIC & OthersThe ten-year-old logistics startup's valuation has soared to $3 billion
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Delhi-based logistics startupDelhiveryhas raised $277 million, pushing its valuation to around $3 billion. The IPO-bound startup's latest round of funding was led by US-based Fidelity. Singapore's GIC, Ballie Gifford, and Chimera also participated in the round.
While Fidelity has infused $125 million in the startup, $75 million was pumped in by GIC. The investment also comes six months after Steadview Capital bought $25 million worth of secondary shares from an early investor in Delhivery.
十岁的启动展望go public next year is aiming to raise $650-$800 million in the market listing and is already in talks with Kotak Mahindra Capital, Citibank, Bank of America, Axis Capital, among others as per media reports. The startup will be expecting to peg the valuation around $4 billion for its IPO.
Founded by Sahil Barua, Kapil Bharati, Suraj Saharan, Bhavesh Manglani and Mohit Tandon in 2011, the startup initially was in delivering food. The startup had also partnered with Zomato in earlier days. However, it pivoted to a full suite of logistics services such as FTL freight, LTL, reverse logistics, express parcel transportation, B2C, B2B among others. At present, Delhivery delivers across 2,300 cities and 17,500 PIN codes.
Manglani and Tandon have moved on from the firm and have been reclassified as retiring and non-active promoters.
The startup claims to have completed more than 800 million transactions since the beginning and works with around 10,000 direct customers including SMEs, e-commerce companies and brands.
While Delhivery awaits its turn to go public next year, Indian startups such as Zomato, Paytm, Lenskart and Freshworks are destined to go for IPO this year. Zomato has already filed its draft red herring prospectus and is looking forward to raising $1.1 billion (INR 8,250 crore) from the market listing. Of this $1 billion will be raised from fresh equity shares and the rest through an offer for sale from Info Edge.
按The Economic Times, Paytm has also received approval from its board and is now preparing to raise $3 billion from IPO with a valuation of $25-$30 billion.
