<article>Logistics start-up Delhivery has secured over $400 million in a financing round led by the SoftBank Vision Fund, the company said.</article>

Logistics start-up Delhivery has secured over $400 million in a financing round led by the SoftBank Vision Fund, the company said.
This round, which saw the participation of existing investors Carlyle and Fosun, will see the valuation of the company shoot up to over $1.5 billion, thereby entering the highly-coveted unicorn club.
Delhivery plans use the newly-infused funds to expand its presence from 15,000 pincodes to 2,00,00 pincodes by the first quarter of FY20; grow its e-commerce market share investment; and expand its end-to-end supply chain platform to enterprise customers and SMEs.
“We will be scaling up our newer warehousing and freight services through large investments in infrastructure and technology and global partnerships in addition to improving the reach, reliability and efficiency of our transportation operations and sharing these benefits with our customers and partners,&#8221; said Sahil Barua, chief executive of Delhivery.
The company claims to have 65% CAGR growth since FY15 with almost one in four packages ordered online in India going through Delhivery’s network, accounting for more than 500,000 parcels daily and over 450 million transactions since its inception.
Delhivery was founded in 2011 by Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Kapil Bharati. The company counts Tiger Global and Nexus Ventures as its investors along with Carlyle and Fosun.
“Our investment in Delhivery reflects our focus on partnering with innovative market leaders,&#8221; said Munish Varma, partner at SoftBank Investment Advisers. “Over the years, Delhivery has demonstrated industry-leading growth and emerged as the one-stop solution for e-commerce logistics.&#8221;
Prior to this, SoftBank Vision Fund last invested in grocery player Grofers, $60 million of which came in earlier this month.
This article was first published on <a href="https://www.livemint.com/">livemint.com</a>

This round, which saw the participation of existing investors Carlyle and Fosun, will see the valuation of the company shoot up to over $1.5 billion.

Delhivery raises $413m led by SoftBank Vision Fund, bags unicorn tag

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Delhivery raises $413m led by SoftBank Vision Fund, bags unicorn tag

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief