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.

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.

  Courier delivery company, Delhivery, Fidelity Management and Research Company, India, Sahil Barua