- Lee Fixel, an early supporter of Delhivery since 2015, has committed $125 million from his new firm – Addition – in the logistics startup.
- The latest financing comes just a few months after Delhivery received a $100 million investment from global shipping company FedEx.
- Delhivery has issued 146,961 Series I CCPS at a cost of INR 37,900 per share.
- Addition, a $1.3 billion venture capital firm founded last year by Lee Fixel, has made its second investment in an Indian business.
Delhivery, a logistics unicorn, secured a $125 million investment from Lee Fixel’s venture capital firm, Addition, on Friday. The venture capital firm is the most recent worldwide fund to invest in the logistics industry, after previous rounds from other prominent global investors.
Lee has been a long-term supporter of Delhivery, investing and reinvesting in the firm since 2015. “We have a long-standing connection with Lee and are happy to welcome him back to our cap table,” said Sahil Barua, CEO of Delhivery. He also said that this investment validates the robustness of the company and reaffirms the faith that institutional investors have placed in Delhivery.
The Gurugram-based logistics startup received $275 million in its Series H round in June 2021, led by Boston-based investment company Fidelity Management and Research Company and other prominent public market funds.
Since its beginning in 2011, Delhivery has grown to become India’s top logistics and supply chain services provider. Their aim is to become India’s operating system for commerce by combining world-class infrastructure, high-quality logistical operations, and cutting-edge engineering and technological skills.
As part of their goal, they hope to provide tools to businesses and individuals across India so that they may participate in the massive digital supply chain potential of the future. Over 7000 businesses have already collaborated and had access to the infrastructure and technology to expand the Delhivery fulfilling platform through their products and operations.
The Delhivery team has successfully completed over 1 billion orders to over 525 million Indian households. With 20 automated sort centers, 67+ fulfillment centers, 68+ hubs, 2300+ direct delivery centers, 7000+ partner centers, and 43000+ team members, we can deliver over 1.5M parcels per day, 24 hours a day, 7 days a week, 365 days a year.
Delhivery offers goods and services with the goal of fostering trust and bettering the lives of consumers, small companies, enterprises, and their increasing team of workers and partners. Through its own network architecture, infrastructure, alliances, and engineering and technological skills, they are revolutionizing India’s logistics sector.
Delhivery provides exceptional cost-effectiveness and pan-India access to over 17000 clients’ companies. They are driven by a purpose to reduce time and distance, making the globe smaller for our customers and the billions of consumers they serve.
“Delhivery has developed a market-leading position by innovating throughout the logistics industry and has attracted numerous notable investors,” said Lee Fixel, Founder of Addition. We are delighted to continue to support Delhivery and its innovative logistics SaaS, which is poised to change the global supply chain and logistics markets.”
Delhivery was created in 2011 by Sahil Barua, Bhavesh Manglani, Kapil Bharati, Suraj Saharan, and Mohit Tandon as a third-party logistics service provider. The startup offers a full suite of logistics services, including express parcel transportation, LTL and FTL freight, reverse logistics, cross-border, B2B and B2C warehousing, end-to-end supply chain services, and technology services, through its nationwide network that extends beyond 19,000 pin codes and 2,500 cities.
Its platform links consigners, agents, and truckers that provide road transportation services. Since its start, the firm has successfully completed over one billion shipments and now works with over 17,000 clients, including big and small e-commerce players, SMEs, and other organizations and brands.
The goal of Delhivery is to create India’s operating system for commerce. Over 17000 clients, including major and small e-commerce players, SMEs, and other prominent companies and brands, rely on them for parcel transportation, warehousing, freight, reverse logistics, cross-border, and technological services.
Their supply chain platform and logistics operations provide customers with supply chain and logistics flexibility, breadth, efficiency, and innovation. The operations, infrastructure, and technology of Delhivery enable clients to transact with them and their partners at a minimal cost.