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Market-bound Delhivery raises $125 mn more from Lee Fixel\'s fund
Photo Credit: 123RF.com

Market-bound logistics company Delhivery has raised $125 million (Rs 922 crore) additional funding from Addition -- a fund floated by former Tiger Global executive Lee Fixel.   

The infusion comes after $75 million came from Addition earlier this month. The other firm backed by Addition in India is Inshorts. 

In May, Delhivery got nearly $277 million (Rs 2,008.6 crore) from a group led by US investment firm Fidelity.   

Singapore sovereign wealth fund GIC, Abu Dhabi-based Chimera Investment LLC and UK’s Baillie Gifford had also participated in the round.   

New Delhi-based Delhivery had raised $25 million from alternative investments firm Steadview Capital in December 2020. At the time Delhivery CEO said that the company was looking to go public in 12-15 months.   

In July 2021, FedEx Express, a subsidiary of US-based logistics major FedEx Corp, invested $100 million (Rs 744 crore) in Delhivery. 

Backed by Japanese 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 accounts for nearly 80% of its revenues.   

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.

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