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Logistics and supply chain startup Delhivery raises $25 million from Steadview Capital ahead of planned IPO – Business News , Firstpost



At current, Delhivery has a nationwide community that touches over 17,500 pin codes and 2,300 cities. It provides a full suite of logistics providers and extra.

Hong Kong-based hedge fund Steadview Capital has purchased $25 million (Rs 183 crore) value of secondary shares in Delhivery from an early investor, ahead of the logistics and supply chain supplier’s plans to launch an preliminary public providing (IPO) within the subsequent 12 to 15 months. It is the most recent abroad fund to spend money on the Gurgaon-based firm. Delhivery turned a unicorn in 2019 when it raised $413 million in a Series F spherical led by SoftBank Vision Fund, together with present buyers Carlyle Group and Fosun International. It was then valued at $1.5 billion.

In a assertion, Ravi Mehta, Founder and CIO of Steadview Capital, mentioned, “We are excited to companion with the superb administration crew of Delhivery, which is remodeling the logistics trade in India throughout ecommerce and conventional trade verticals.”

“The firm’s tech-centric method has been a key enabler in guaranteeing sooner supply speeds, lowering logistics prices, and rising ecommerce adoption within the nation during the last decade. We imagine Delhivery is nicely-positioned to develop into the most important logistics firm in India and is poised for a robust progress trajectory within the years to come back,” he added.

Sahil Barua, Founder and CEO of Delhivery, mentioned, “We are delighted to welcome Steadview Capital onto our cap table. We’ve known Steadview and Ravi for quite some time, and it’s great to have them join us for this next phase of Delhivery’s journey. Steadview is a long-term investor and we see them playing a key role as Delhivery heads towards the public markets in the next 12-15 months.”

At current, Delhivery has a nationwide community that touches over 17,500 pin codes and 2,300 cities. It provides a full suite of logistics providers akin to specific parcel transportation, LTL (Less Than Truckload) and FTL (Full Truckload) freight, reverse logistics, cross-border, B2B and B2C warehousing, and expertise providers.

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