Delhi-based logistics firm, Delhivery, announced that it has raised USD 100 million in a funding round led by US-based investment fund Carlyle Asia Partners, with the participation from existing investor Tiger Global. With this funding, Carlyle Asia Partners has also picked up a minority stake in the e-commerce startup.
“We have been very impressed with Delhivery’s management team and the company’s strong execution capabilities, leveraging its extensive network and proprietary technology platform. We are delighted to partner with the management and expect to leverage our global experience in the logistics sector to assist the company with operational improvements and business expansion,” said Neeraj Bharadwaj, Managing Director, Carlyle Group in India.
The Carlyle Group is a worldwide alternative asset manager with USD 158 billion of assets under management across 281 investment vehicles, according to a company statement.
The Gurugram-based firm currently claims to service about 600 cities and 8,500 PIN codes. The firm has about 12 fulfillment centers for B2B and B2C fulfillment services and works with companies like Paytm and Flipkart.
“We are excited to partner with Carlyle as we continue to grow our business to meet the surging demand from our ecommerce clients, small businesses and enterprises who are rapidly digitizing their supply chain operations. We believe Carlyle’s global network and industry expertise will enable us to expedite our growth strategy,” said Sahil Barua, CEO & co-founder of Delhivery.
In March 2015, the company had raised a massive USD 85 million in Series D round led by Tiger Global Management with participation from existing investors, Nexus Venture Partners Multiples Alternate Asset Management and Times Internet Limited.