Bengaluru based logistics startup Delhivery Pvt. Ltd has raised around $413 million in a funding round led by the SoftBank Vision Fund.
It’s existing investors Carlyle Group and Fosun International also participated in the funding round, which has cemented the entry of Delhivery in the coveted unicorn club. The total valuation is now over $1.5 billion.
Delhivery was founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Kapil Bharati.
The fresh bout of funding will be used to expand the presence of the company to 20,000 pincodes soon. Presently the company caters to 15,000 pincodes. The idea is to grow its e-commerce market share investment and expand its end-to-end supply chain platform to enterprise customers and small and medium businesses.
“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,” said Sahil Barua, chief executive, Delhivery.
Delhivery has worked up its way and emerged as a one-stop solution for e-commerce logistics. The investor company SoftBank Vision Fund earlier invested in grocery player Grofers.