Indian courier delivery company Delhivery raises $275m ahead of IPO
Indian courier delivery company Delhivery secured $275 million in a primary funding round led to take its valuation to more than $3 billion, reported PTI.
The funding round of the e-commerce logistics start-up was led by Fidelity Management and Research Company. It comes amid the company’s plans to launch an initial public offering (IPO) to become a publicly traded company in the near future.
Delhivery’s latest funding round also saw the participation of other public market funds whose names were not revealed by the company.
Indian courier delivery company Delhivery raises $275m ahead of IPO. Photo courtesy of Markus Winkler from Pixabay.
Sahil Barua – Delhivery co-founder and CEO said: “We are delighted to welcome Fidelity and our other new investors to our cap-table. This round of financing significantly strengthens our balance sheet and is a statement of confidence as we plan to go public.”
Delhivery, which becomes a decade old this June, has executed a billion cumulative shipments in April 2021, said Sahil Barua.