Delhivery is an e-commerce logistics service provider, conceived by a group of five in the year 2011. What started off as a hyper-local express delivery for delivering flowers and food in Gurugram, is now India’s fastest growing start-up.
With the excellent financial growth shown by the company, it has successfully entered the Unicorn Club after it raised $395 million from Japanese conglomerate Softbank last month. Let’s take a look at the progress chart of this legendary startup that is now part of the unicorn club!
In the year 2010-11, the founding comrade, Salil Barua, and Mohit Tandon were consultants in Bain & Co. saw the potential of logistics industry in India and decided to begin their own start-up, ‘Delhivery’. On June’11 they bagged their first client- Urban Touch. In August, they shifted to e-commerce logistics with a team size of 150.
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They raised a funding in Series A, from Times Internet Limited of $1.5 million. During the year they launched third-party courier services warehouse in Chennai and Delhi and processed 50000 shipments a month.
The company had its services in 130 cities and expanded fulfilment services to 3 cities. In September, they gained Series B funding led by Times and Nexus Venture Partners with a sum of $6 million. By the end of this year, their team-size was 2500 plus.
In the beginning of 2014, the company had 6 fulfilment centres with a total space of 250,000 square feet area to offer services pan- India. On September 8, they raised $35 million in Series C funding from Multiples Alternate Asset Management Pvt limited driven by Renuka Ramnath, along with existing investors.
They established 1st fulfilment centre in Dubai, for cross-border services. In the month of May, bagged Tiger Global Management as their investor and raised $85 million in totality in Series D funding. They also achieved 1.2 million shipment per day, capacity mark.
Delhivery completed its 100 million shipments and launched less-than-truckload freight services.
In the Private Equity Round- Delhivery bagged funds of $6.6 billion from Carlyle Group and Tiger Global along with $30 million from Fosun Group. Their reached now expanded to 12000 plus pin-codes and over 1200 cities.
They have 30 fulfilment centres in around 12 cities worldwide. Delhivery advanced their services to Full-truckload freight services.
On March 5, 2019, Japan-based tech-investor Softbank, funded $395 million in Series F compulsorily convertible cumulative preference shares (CCCPS) each at a premium of 20,063 to Softbank. Through this funding, Delhivery became the 2019’s 1st company to enter the Unicorn Club.
At present, Delhivery has 950 e-commerce companies including Flipkart as its clients. From a turnover of Rs. 62 crore to a net value of $1.6 billion, Delhivery has come a long way.
True to its tagline- ‘changing the world, one shipment at a time’, Delhivery is changing the logistics market with a new strategy every day.