Leading e-commerce logistics startup Delhivery has raised USD277 million in a funding round led by investment firm Fidelity, the company disclosed in a regular filing. Singapore’s sovereign wealth fund GIC, Abu Dhabi’s Chimera, and UK’s Baillie Gifford also participated in the new round. The new round valued the 10-year-old startup at about $3 billion.
This is the final funding round for the Gurugram-headquartered firm, before its IPO, which is expected to open in 2022.
Delhivery’s other investors include SoftBank Vision Fund, Tiger Global Management, Times Internet, The Carlyle Group, and Steadview Capital.
Launched in 2011, Delhivery currently operates a full suite of logistics services in over 2,300 Indian cities and more than 17,500 zip codes. The company has till date fulfilled over one billion orders to more than 300 million households across India, thanks to its nationwide infrastructure that includes 24 automated sort centers, 85+ fulfilment centers, 75+ hubs, 3000+ direct delivery centers, 7500+ partner centers, 15,000+ vehicles and 40,000+ team members.