The company plans to use the funding to improve its logistics platform. Here are the top-line bullets you need to know.
Delhivery, a technology-based logistics company, has raised $277M in a Series G that drew participation from Fidelity Investments, GIC, Chimera, and Baillie Gifford, among others.
HOW’S THE COMPANY PERFORMING?
- India-based Delhivery is a provider of online shipping services to e-commerce companies and entrepreneurs in India. It connects consigners, agents, and truckers and offers road transport solutions, supply chain management, parcel transportation, warehousing, freight, reverse logistics, and other related services through its digital platform.
- The company is reportedly preparing for an IPO in 2022 and expects to raise $600M to $700M.
- Delhivery entered the unicorn club in 2019, but its latest funding round values it at $3B.
- The company’s platform caters to more than 10,000 direct customers across 2,300 cities with 850M fulfilled transactions since its inception.
- It has more than 350 employees, spread across offices in Gurugram, Goa, and Hyderabad in India, and Seattle in the US.
Source: Delhivery
WHY DOES THE MARKET MATTER?
- The global logistics market is projected to grow at a CAGR of 6.5% and reach a value of $7.641T by 2027, according to Allied Market Research.
- The pandemic has accelerated the expansion of online retail in 2020 and caused an increase in demand for FMCG, medical supplies, and other consumer goods, driving growth in the global logistics industry.
- The global supply chain and logistics technology segment witnessed more than 400 deals in 2020.
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