Delhivery Secure $30 million from Fosum International
23rd, May 2017 - News
E commerce logistics firm, Delhivery has raised $30 million in funding from Fosum International, chiness conglomerate.
With this funding the company is valued at $650 million as per ET report.
Delhivery was brain child of Sahil Baura, mohit tandan and Suraj Saharan which was formed during 2011 with an aim to disrupt logistic supply chain market in India. At present the company is operating in 600 cities across India. It has about 12 fulfil centres and work with major E commerce giants in the Industry.
During March the company raised $85 millions in series D round led by Tiger global Management articipation from existing investors, Multiples Alternate Asset Management, Nexus Venture Partners, and Times Internet Limited. Prior to that, in September 2014, it had raised its Series C round, led by Multiples Alternate Asset Management.
Delhivery is planning to go for IPO but awaiting for government’s approval on regulations
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