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Logistics firm Delhivery raises $277 million, now valued at $3 billion


Ahead of its initial public offering (IPO) this year, supply chain services provider Delhivery has reportedly raised $277 million in its latest round of funding, taking its market valuation to nearly $3 billion.
According to a TechCrunch report, Delhivery disclosed the finding in its latest regulatory filing that has been led by US-headquartered investment firm Fidelity.
Other investors reportedly are Singapore s sovereign wealth fund GIC, Abu Dhabi s Chimera and UK s Baillie Gifford .
When contacted, Delhivery refused to comment on the funding at the moment.
Delhivery, a leading fulfillment platform for digital commerce, has raised about $1.23 billion to date.
Earlier this year, Delhivery announced to expand its footprint by opening two new tech offices in Bengaluru and Ahmedabad, that will take its workforce strength to more than 500 employees in the country. ....

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IPO-bound Delhivery Raises $277 Mn From Fidelity, GIC & Others


You re reading Entrepreneur India, an international franchise of Entrepreneur Media.
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. ....

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