Business, Investments

Delhivery to raise INR 175 crore soon

eCommerce logistics firm Delhivery will soon be raising its third round of funding, per an Economic Times report. The investors are yet to be disclosed, but, Quikr investor, Warburg Pincus could be a part of the list. The deal is expected to get closed in mid June this year.

The founders of the company, however, have declined to comment on the funding.

Delhivery was started by a group of engineers including Amit Prakash, Ambasta, Bhavesh Manglani, Kapil Bharati, Mohit Tandon, Sahil Barua and Suraj Saharan. Founded in 2011, the company is based in Gurgaon.

As stated by Sahil to iamWire, Delhivery currently has an in-house express shipping network across 150 cities with over 210 distribution stations and does close to 55,000 transactions in a day. Also, the company is looking forward to expand its presence across 100 more cities by the end of this year.

Last year, it acquired the cash collection service ‘Gharpay’ which had 750 current clients for an undisclosed amount of funds. In September 2013, Delhivery raised USD 5 million from Nexus Venture partners in Series B round.

Previously, the company has raised investments from Times Internet Ltd against minority stake in it and have also handled the major portion of Indiatimes shopping drop shipping model.

Further details regarding the investment and near future plans of the company are yet to be revealed by the founders.

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