India’s largest e-commerce logistics company “Delhivery” received US$100 million in strategic financing, valued at US$3 billion

Signed a long-term commercial agreement with express service giant FedEx Express

According to foreign media TechCrunch , Indian logistics company Delhivery has received a $100 million strategic investment from FedEx Express, a subsidiary of express service giant FedEx. Previously, Delhivery had gone through 11 rounds of financing. The most recent one was in May of this year, when SoftBank Vision Fund, Tiger Global Management, and Times Internet jointly invested US$277 million in a Pre-IPO round of financing. At the time of this round of financing, Delhivery was valued at US$3 billion. .

As part of the transaction, FedEx Express and Delhivery will sign a long-term business agreement. FedEx Express will focus on India’s international import and export services and transfer some of the assets of the original Indian business to Delhivery. Delhivery will be responsible for FedEx Express’s products in the Indian market. And services, including pickup, delivery and other services. In addition, FedEx Express CEO Don Colleran was nominated as a member of Delhivery’s board of directors.

Sahil Barua, co-founder of Delhivery, said that the cooperation with FedEx Express can further leverage Delhivery’s advantages in India’s local logistics network and distribution services, and bring better logistics experience to consumers in India and the world.

Established in 2011, Delhivery was initially positioned as a food delivery company, and later developed to provide a full set of services including warehousing, trunk transportation and last-mile delivery to major e-commerce platforms and more than 100,000 small and medium-sized enterprises in India. In addition to e-commerce express delivery, Delhivery also provides services such as freight forwarding, takeaway, and cross-border e-commerce for Indian companies.

Currently, Delhivery adopts a fully-directed network, covering 2,300 cities in India, cooperating with more than 15,000 customers, and fulfilling more than 1 billion orders. In terms of infrastructure, Delhivery has established 19 automatic sorting centers, 30 logistics centers, more than 2,500 direct distribution centers, with more than 14,000 vehicles and more than 40,000 team members.

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Delhivery automatic sorting center (photo courtesy of the official website)

Delhivery is one of the few digital freight trading platforms in India. The sender can directly contact agents and truck drivers on the platform to complete the “order-transport-receive” freight process without intermediaries, making the whole process more efficient and effective. Transparent.

At present, Delhivery has not disclosed its earnings for the 2021 fiscal year, but from the 2020 financial report, the loss has decreased slightly, from 17.73 billion rupees (approximately US$230 million) in the 2019 fiscal year to 2.69 billion rupees (approximately three thousand). Six million dollars). During this period, Delhivery’s comprehensive revenue reached approximately 30 billion rupees (approximately US$400 million), while revenue in 2019 was approximately 17 billion rupees (approximately US$230 million). Sahil Barua said that the development of India’s e-commerce platform and the stimulus of online consumption by the epidemic have promoted Delhivery’s rapid expansion in the past two years.

According to a report by consulting firm Bernstein, the total size of the Indian logistics market TAM (Total Addressable Market) exceeds US$200 billion, but insufficient digitization will lead to inefficient transportation. Delhivery said at the end of last year that it plans to invest more than 40 million U.S. dollars within two years to expand the size of its distribution fleet to meet the ever-increasing distribution needs of the market.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/indias-largest-e-commerce-logistics-company-delhivery-received-us100-million-in-strategic-financing-valued-at-us3-billion/
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