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E-commerce logistics startup Delhivery raises $85 mn in funding round led by Tiger Global

Gurgaon-based e-commerce
logistics firm Delhivery has raised $85 million in Series D round of $85
million. The funding, which comes less than eight months after the company
raised $35 million in a Series C round, has bolstered the logistics provider’s
valuation to $350-400 million, reports Live Mint, citing sources.

Gurgaon-based e-commerce
logistics firm Delhivery has raised $85 million in Series D round of $85
million. The funding, which comes less than eight months after the company
raised $35 million in a Series C round, has bolstered the logistics provider’s
valuation to $350-400 million, reports Live Mint, citing sources.

According to a report,
the latest round was led by Tiger Global Management. The round also saw participation
from returning investors Multiples Alternate Asset Management, Nexus Venture
Partners, and Times Internet Limited.

Since its
inception in 2011, SSN Logistics Pvt. Ltd run Delhivery has raised close to
$125 million. Delhivery, which currently has 10,000 employees in more than 200
cities, says that its 11 fulfillment centers cover more than one million square
feet of warehouse space, which it plans to increase to 2.5 million square feet
by the end of this year.

Presently, the
startup claims to be processing over three million monthly transactions for
70,000 merchants, 1,500 e-commerce companies, and 200 offline retailers.

In a prepared
statement, Delhivery said it will use its series D on infrastructure to serve
different kinds of e-commerce companies and verticals, including hyper-local
commerce, furniture, and e-commerce, as well as extend its reach in rural areas
of India.

Delhivery will
also look at acquisitions in the e-commerce value chain to complete its suite
of services, apart from investing in technology.

“We are at an
advanced stage of discussion with a few companies in the e-commerce enablement
space,” Barua told Live Mint, suggesting that the company is eyeing 4-5 potential
acquisition targets over the next eight months.

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