Ahead of its proposed public offering, logistics company Delhivery has raised nearly $277 million (Rs 2008.6 crore) from a group of investors led by US investment firm Fidelity.
Singapore sovereign wealth fund GIC, which invested through its unit Gamnat Pte, Abu Dhabi based private investment firm Chimera Investment LLC and UK’s Baillie Gifford, which invested through Pacific Horizon Investment Trust, participated in the round, regulatory filings showed.
The New Delhi based company had last raised $25 million from alternative investments firm Steadview Capital in a secondary transaction in December 2020. At the time Delhivery CEO Sahil Baruah said that the company was looking to go public in 12-15 months.
TechCircle reported in September last year that the company was on the lookout to raise $300 million ahead of its IPO. With the current round, the company has raised close to $ 1 billion in equity capital.
Backed by Japanses technology conglomerate SoftBank, Delhivery was founded in 2011 as a hyperlocal logistics company. At present it commands a significant market share in the business-to-consumer ecommerce logistics space, though its business-to-business service contributes to nearly 80% of its revenues.