- This follows the funding of $76.4 million made through Addition through subscribing to 146,961 compulsorily convertible desire stocks of the logistics company on September 6.
Livemint | By means of Anuj Suvarna, Bengaluru
UPDATED ON SEP 25, 2021 02:14 AM IST
Delhivery, which is aiming for an preliminary public providing (IPO), has raised an extra $125 million in investment from Addition, a fund floated through former Tiger International government Lee Fixel.
This follows the funding of $76.4 million made through Addition through subscribing to 146,961 compulsorily convertible desire stocks of the logistics company on September 6. In Would possibly, Delhivery secured just about $277 million from traders led through US funding company Constancy.
Singapore sovereign wealth fund GIC, which invested via its unit Gamnat Pte; Abu Dhabi-based personal funding company Chimera Funding LLC; and Baillie Gifford, which invested via Pacific Horizon Funding Believe, had additionally participated within the investment spherical.
“Delhivery has established a market-leading place through innovating around the logistics area and has attracted a number of marquee traders” Fixel stated on Friday. It’s well-positioned to turn into the worldwide provide chain, he added.
New Delhi-based Delhivery had final raised $25 million from choice investments company Steadview Capital in a secondary transaction in December 2020. At the moment, Delhivery CEO Sahil Barua had stated the corporate goals to move public in 12-15 months.
In July, FedEx Categorical, a subsidiary of US-based logistics main FedEx Corp, invested $100 million in Delhivery. As a part of the settlement, FedEx Categorical will center of attention on world export and import services and products to and from India, whilst Delhivery will promote FedEx Categorical’ world services and products within the Indian marketplace and supply pick-up and supply services and products around the nation.