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Delhivery
Indian logistics company From Wikipedia, the free encyclopedia
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Delhivery is an Indian logistics and supply chain company, based in Gurgaon.[3] It was founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati.
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History
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Delhivery was established in May 2011 as SSN Logistics Ltd, initially conceptualised as a hyperlocal express delivery service provider for offline stores, delivering flowers and food in Gurgaon.[4][5][6] During that time, the online retailing and e-commerce segment was expanding rapidly in India, with global investors showing significant interest in the industry.[7]
Founders Barua and Tandon, who were at the time working as consultants with the management consulting firm, Bain & Company, were intrigued by the size and potential of the industry, and decided to focus on the segment.[8] In June 2011, Delhivery signed its first e-commerce client, Urban Touch, which is an online fashion and beauty retailer. By August 2011, Delhivery had switched completely to offering logistics services to a number of e-commerce companies.[9]
In March 2019, Delhivery raised its biggest round of funding with a $413 million investment from SoftBank.[10] In May 2021, Delhivery revealed it has further raised $277 million in a funding round led by Fidelity, taking its market valuation to nearly $3 billion.[11]
In August 2021, Delhivery acquired the B2B logistics company, Spoton Logistics, for ₹1,600 crore (US$190 million).[12] In December 2021, it acquired California-based unmanned aircraft system company Transition Robotics Inc.[13]
Delhivery raised ₹2,347 crore (US$280 million) of funding from 64 anchor investors ahead of its initial public offering in May 2022.[14] In May 2022, Delhivery launched its initial public offering (IPO) of ₹5,235 crore (US$620 million) at a valuation of ₹35,283 crore (US$4.2 billion) and got listed on the BSE and the NSE.[15]
In 2024, Delhivery became one of the sponsors of the Royal Challengers Bangalore team in the Indian Premier League.[16]
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Organisation
Founder Sahil Barua is the CEO of Delhivery and Co-Founder Kapil Bharati is the CTO of Delhivery. The company witnessed the exit of two founders on 30 March 2021.[17]
Investors
As of May 2024, the largest stakeholders in the company are SoftBank Group (11.74%), SBI Funds Management (9.10%) and Nexus Venture Partners (8.96%).[18] Delhivery had raised about US$1.4 billion from its investors across 13 private fundraising rounds until December 2021.[19]
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External links
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