Logistics Startup Delhivery Secures $35mn In Series C Round; Led By Multiples Alternate Asset Management

Logistics is the next big bet in Indian ecommerce industry. Players like DHL are piloting their logistics play in India and Delhi based Delhivery has raised $35mn in Series C round led by Multiples Alternate Asset Management, with participation from existing investors Nexus Venture Partners and Times Internet.

Delhivery, which started as a transportation services provider in 2011, now provides a range of products and services for business looking to go online including online channel integration services, strategic sourcing, catalogue management, inventory management and analytics along with multi-city fulfillment, express transportation and reverse logistics.With presence in 180+ cities already, the company now plans to expand its network to over 250 cities by the end of this calendar year.

Delhivery earlier raised $5mn from Nexus Venture Partners in Series B in 2013. Started in 2011, the company now handles 51,000 products per day.

Delhivery Presence
Delhivery Presence

Delhivery expects its top line to touch Rs 220 crore at the end of the current fiscal. The Indian government however plans to position India Post as a logistics provider for ecommerce delivery.

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