Delhivery raises ₹558 crore from Lee Fixel’s Addition

Yatti Soni Bengaluru | Updated on September 07, 2021

The company is also eyeing a public listing by early next year

Logistics unicorn Delhivery has raised ₹558 crore from Lee Fixel’s Addition, according to the company’s latest MCA filings.

The logistics company has allotted 1,46,961 Series 1 CCCPS shares to Addition at the premium of ₹37,900 per share. In the past few months, Delhivery has raised a $100 million funding from FedX Express and another $275 million funding from Fidelity Management and Research company. The company is also eyeing a public listing by early next year.

Delhivery is an end-to-end logistics and supply chain services company, with a nationwide network covering over 19,400 pin codes. The company provides a suite of logistics services such as express parcel transportation, LTL and FTL freight, reverse logistics, cross-border, B2B & B2C warehousing, end-to-end supply chain services, and technology services.

Delhivery has recently acquired its competitor Spoton to strengthen its B2B capabilities. Spoton services customers across industries including Hi-tech, Automotive, Engineering, Pharmaceutical, Electronics and Electricals, Lifestyle, Retail and e-commerce. As a part of the transaction, Samara Capital and Xponentia that together acquired Spoton from IEP in 2018, made a full exit for cash.

At the time of Spoton acquisition, Sahil Barua, Delhivery CEO, had said, "Over 10 years Delhivery has established a leading position in B2C logistics and now by combining our truckload business with Spoton's we will be on the path to the same position in B2B express as well.”

Delhivery was founded by Mohit Tandon, Sahil Barua, Bhavesh Manglani, Kapil Bharati and Suraj Saharan in 2011. The company claims to have fulfilled over 1 billion shipments since inception and is currently engaged with over 17,000 customers, including large and small e-commerce participants, SMEs, and other enterprises and brands.

Delhivery reported revenue of ₹2,986.4 crore and an expenditure of ₹3,250.4 crore in FY 2020. Out of the ₹2,986.4 crore revenue, the majority of earnings came from its operations in FY’20.

Published on September 06, 2021

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