E-commerce logistics services provider Delhivery has raised $35 million in Series C round of funding led by Multiples Alternate Asset Management, with participation from existing investors Times Internet and Nexus Venture Partners, reports The Economic Times. Delhivery had raised close to $5 million in Series B investment from Nexus Venture Partners in September 2013, and Times Internet* had bought a minority stake in the company for an undisclosed amount in June 2012. Delhivery co-founder Sahil Barua told the publication that the funds will be used to expand Delhivery’s network, fulfillment space and technology portfolio. Barua claimed that Delhivery is currently present in 180 towns and cities across India, and plans to expand it to 260 by the end of this year, though the Delhivery website indicates that it’s present in 150 cities. The report pegs the value of Delhivery at Rs 500 crore after this latest round of investment, though the details of the exact stake acquired by Multiples isn’t clear. Founded in May 2011, Delhivery provides logistics solutions for e-commerce companies. This includes solutions like last mile delivery, third party warehousing, reverse logistics and multiple payment collection and processing options. It also provides vendor-to-warehouse and direct vendor-to-customer shipping solutions. Delivery had acquired the offline cash collection network of Gharpay and the Gharpay brand for an undisclosed amount in June 2013. It’s worth noting that a month after the acquisition the company had faced integration issues with Gharpay and had to suspend Gharpay deliveries for some clients for a short…
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