Welcome Guest

Businessex.Com
Home News Delhivery raises $35 million in third round of funding

Delhivery raises $35 million in third round of funding

Tags: E-commerce, logistics services, Delhivery, Multiples Alternate Asset Management, entrepreneur, Sahil Barua

September 08, 2014 | COMMENTS ( 0 )

Delhivery raises $35 million in third round of funding

Gurgaon-based Delhivery, an e-commerce enablement firm, today announced that it has closed a $35 million round of funding. The Series C investment has been led by Renuka Ramnath-led private equity firm Multiples Alternate Asset Management. Existing investors, Nexus Venture Partners and Times Internet Limited also participated in the round.
 
 
"We are delighted to welcome Multiples to the Delhivery team. Our focus is to create outstanding consumer experiences by enabling e-commerce for online retailers, small and medium enterprises and traditional brick-and-mortar retailers.This round of financing will be used to invest extensively in our growing portfolio of commerce technologies and towards expanding our logistics infrastructure, fulfilment and transportation services," said Sahil Barua,CEO & Co-founder, Delhivery.
 
 
"When we invested in Delhivery, Indian E-commerce was ready for explosive growth which in return needed world class logistics infrastructure. While it was never an easy problem to solve, the Delhivery founding team were young, competent and very well balanced with the right head on their shoulders to go after this large problem. We always believed that this team can build a new generation tech enabled logistics company which is innovative and very different from any other player. This fund raise should further help them improve their differentiated capabilities," said Gautam Sinha, COO (Times Internet Limited), who has been a board member and advisor to the company since 2012.
 
 
"Underlying this investment is our strong belief in Sahil and the founding team's DNA of technology and the execution focus that they have demonstrated. Delhivery has the right ingredients to build a highly differentiated logistics company that could expand beyond being a critical service provider for online retailers, into also becoming a strategic partner in fulfilling the online aspirations of many brick-and-mortar businesses," said Sudhir Variyar, Managing Director, Multiples.
 
 
"What impressed me most about Delhivery, was the consistent endorsement from the largest ecommerce players about the ability of Delhivery in understanding and suitably innovating to meet the unique requirements of the rapidly growing and evolving e-Tailing industry", said  Abhi Dhall who led the diligence from Multiples.
 
 
Delhivery, which started as a transportation services provider in 2011, now provides a range of products and services for business looking to go online including online channel integration services, strategic sourcing, catalogue management, inventory management and analytics along with multi-city fulfillment, express transportation and reverse logistics.With presence in 180+ cities already, the company now plans to expand its network to over 250 cities by the end of this calendar year.
 
 
Satyan Gajwani, CEO of Times Internet Limited says, "We have been early believers in Delhivery and its founding team, and they have always surpassed our expectations. With this raise, the company is well positioned to further its position as the leading ecommerce solutions provider in India."
 
 
Echoing the need for new-age commerce ecosystem enablers like Delhivery, Suvir Sujan, Co-founder and MD of Nexus Ventures Partners says, "One of the most critical infrastructure requirements for ecommerce in this country is logistics.  The Delhivery team has the deep understanding and execution capability to be a market leader in this space."
 
 
With a rapidly growing team of over 4000 employees, Delhivery handles over 70,000 transactions for 25000+ merchants, 800 e-commerce companies and 80 offline retailers across its network. The company expects to double volumes by the end of the financial year. The company raised its Series A round from Times Internet Limited in April 2012 and Series B from Times Internet Limited and Nexus Venture Partners in September 2013.

 

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....