wordpress blog stats
Connect with us

Hi, what are you looking for?

Delhivery raises $35M Series C funding from PE firm Multiples & existing investors

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…

Please subscribe/login to read the full story.
Written By

Free Reads

News

The service from the tie-up will initally be launched at Bengaluru, Bhubaneswar, Vijayawada and Visakhapatnam railway stations

News

The Minister's response came after an X user posted answers generated by Gemini regarding Prime Minister Narendra Modi.

News

Vaishnaw said that in the next five years, there will be significant disruptions in the way telecom technology operates.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

News

RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ