Delhivery raises $125M from Lee Fixel’s Addition
Logistics unicorn Delhivery announced that it has received $125 million from Lee Fixel’s venture capital firm, Addition.
The VC firm is the latest global fund to make an investment in the logistics company, succeeding previous rounds from other marquee global investors.
Lee continues to be a long-term backer of Delhivery and has been making investments and re-investing in the company since 2015.
In a statement, Sahil Barua, CEO, Delhivery, said, “We have a long-standing relationship with Lee and are delighted to welcome him to our cap table again. This investment reinforces the trust that institutional investors have placed in Delhivery and is a validation of the strength of our business.”
The Gurugram-based logistics unicorn had raised $275 million in its Series H round in June 2021 led by Boston-headquartered investment firm Fidelity Management and Research Company, among other leading public market funds.
Commenting on the investment, Lee Fixel, Founder of Addition, said, “Delhivery has established a market-leading position by innovating across the logistics space and has attracted several marquee investors. We are pleased to continue to support Delhivery and its new logistics SaaS, which is well-positioned to transform the global supply chain and logistics markets.”
Established by Sahil Barua, Bhavesh Manglani, Kapil Bharati, Suraj Saharan, and Mohit Tandon in 2011, Delhivery is a third-party logistics service provider.
With its nationwide network stretching beyond 19,000 pin codes and 2,500 cities, the startup offers a full range of logistics services, like express parcel transportation, LTL and FTL freight, reverse logistics, cross-border, B2B and B2C warehousing, end-to-end supply chain services, and technology services.
Its platform connects consigners, agents, and truckers providing road transport solutions.
The company claims to have successfully fulfilled more than one billion shipments since its launch and works with more than 17,000 customers today, including large, and small e-commerce participants, SMEs, and other businesses and brands.
Delhivery has emerged as the pioneer in the logistics segment. I’m sure the company will continue to reach new heights of success in its journey ahead. My best wishes to the team of Delhivery.Shishir Gupta, Founder and CEO, StartupLanes
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
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