Delhivery – the logistics startup which was in talks to raise $100 million capital, has today announced that it has secured the said funding in a latest round, led by Carlyle Asia Partners Fund IV.
Along with Carlyle, Tiger Global Management has also participated in this round. As per the reports, US-based investment fund Carlyle Asia Partners IV has picked up a significant minority stake in e-commerce logistics company. The startup is now valued at over $600 million.
Delhivery, the Gurgaon-based company, began operations in 2012 as yet another hyperlocal food delivery startup. Soon, it pivoted to an e-commerce logistics company piggybacking on the online retail boom. It currently services over 600 cities and 8,500 PIN codes. It has a network of 12 fulfilment centres and works with companies like Flipkart and Paytm.
As per the report by investment bank Avendus Capital, technology-enabled logistics businesses are expected to emerge as the next big market, growing from $1.4 billion in 2015 to $9.6 billion by 2020.
Source: The Tech Portal
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