In another display of India’s growing start-up industry, e-commerce fulfilment company Delhivery has raised its Series D funding round led by Tiger Global Management and backed by existing investors Multiple Alternate Asset Management, Nexus Venture Partners and Times Internet Limited. The investment round totalled up to $85 million, just eight months after the company raised its Series C.
A company spokesperson expressed the views and vision that Delhivery follows. Delhivery’s ambition is to fulfil the country’s online demand for consumer products and the capital raised will be used to strengthen their infrastructure and create services for e-commerce, hyper-local commerce, C2C commerce and other areas with specific requirements like reverse logistics, furniture and grocery.
“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 fulfil all the rapidly growing online demand for products in India. “said Lee Fixel, Partner, Tiger Global.
Times Internet’s Satyan Gajwani praised the company as well by saying that it has grown rapidly since its inception in 2012 and has proprietary commerce technologies to manage complex logistics issues better than any other company in India.
Delhivery plans to expand itself by the end of 2015 so it can reach out to rural areas as well along with acquisition of over 2.5 million square feet of fulfilment centers. The company also aims at increasing their senior management team that already has notable names like Sandeep Barasia, ex-Bain and Company and Suraju Dutta, ex-FedEx, as Managing Directors.
Founded in 2011 by Sahil Barua, Mohit Tandon, Suraj Saharan, Bhavesh Manglani and Kapil Bharati, Delhivery currently is responsible for more than 3 million monthly transactions for 70,000+ merchants, 1,500 ecommerce companies and 200 offline retailers across its network.