Supply chain services provider Delhivery on Monday confirmed that it has raised $275 million in a primary funding round led by Fidelity Management and Research Company.With the fresh capital, Delhivery s valuation is expected to rise to over $3 .
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Delhi-based logistics startup Delhivery has raised $277 million, pushing its valuation to around $3 billion. The IPO-bound startup’s latest round of funding was led by US-based Fidelity. Singapore’s GIC, Ballie Gifford, and Chimera also participated in the round.
While Fidelity has infused $125 million in the startup, $75 million was pumped in by GIC. The investment also comes six months after Steadview Capital bought $25 million worth of secondary shares from an early investor in Delhivery.
The ten-year-old startup which is looking ahead to go public next year is aiming to raise $650-$800 million in the market listing and is already in talks with Kotak Mahindra Capital, Citibank, Bank of America, Axis Capital, among others as per media reports. The startup will be expecting to peg the valuation around $4 billion for its IPO.
Delhivery on Monday said it has raised USD 275 million (about Rs 1,995 crore) in a primary funding round, led by Fidelity Management and Research Company, ahead of the e-commerce logistics startup s plans to get listed in the coming months. The company said some other public market funds also participated in the round but did not disclose the names of the investors. With the fresh capital, Delhivery s valuation is expected to rise to over USD 3 billion, a statement said. The capital infusion comes in when the company has witnessed healthy revenue growth in 2020-21 despite the pandemic and is well poised on its path to profitability, it added.