Post Date : December 17, 2020
Delhivery, Indias fastest growing supply chain company, has added Steadview Capital as a new investor. The firm has bought $25 million worth of secondary shares from an early investor in the logistics company it informed on Tuesday.
With Delhivery’s nationwide network extending beyond 17,500 pin codes and 2,300 cities, the company provides a full suite of logistics services such as express parcel transportation, LTL and FTL freight, reverse logistics, cross-border, B2B, and B2C warehousing, and technology services.
“We are excited to partner with the excellent management team of Delhivery, which is transforming the logistics industry in India across e-commerce and traditional industry verticals. The company’s tech-centric approach has been a key enabler in ensuring faster delivery speeds, decreasing logistics costs, and increasing e-commerce adoption in the country over the last decade.”~ Ravi Mehta, founder & CIO at Steadview Capital.
He added, “We believe Delhivery is well-positioned to become the largest logistics company in India and is poised for a strong growth trajectory in the years to come.”
Steadview Capital is one of the largest backers of Indian consumer internet and enterprise tech firms. Along with Delhivery, Steadview’s portfolio includes Dream11, Freshworks, Lenskart, Nykaa, Ola, Policybazaar, UC, Unacademy, Zenoti, and Zomato among others.
“We are delighted to welcome Steadview Capital onto our cap table. Steadview is a long-term investor, and we see them playing a key role as Delhivery heads towards the public markets in the next 12-15 months.”~ Sahil Barua, founder & CEO, Delhivery
Delhivery turned unicorn last year after it garnered over $400 million in a funding round led by SoftBank. As online orders surged amid the pandemic, logistics companies serviced bulk shipments. Delhivery plans to invest over Rs 300 crore on expansion in the coming 18-24 months, increasing its fleet size and setting up more mega trucking terminals.