Delhivery gets new investor in Canada Pension Plan Investment Board
September 10, 2019: Canada Pension Plan Investment Board (CPPIB) has invested $115 million in Delhivery Pvt Ltd, buying a 8 percent stake from an existing investor in the logistics company.
Delhivery operates in more than 2,000 Indian cities (more than 17,500 pincodes).
September 10, 2019: Canada Pension Plan Investment Board (CPPIB) has invested $115 million in Delhivery Pvt Ltd, buying a eight percent stake from an existing investor in the logistics company. The investment will give CPPIB one seat on Delhivery’s Board.
While the name of the seller has not been disclosed, CPPIB's investment was made through its Fundamental Equities Asia (FEA) Group, which performs fundamental research and invests in Asia for the long term.
“The continued strong growth of e-commerce has generated significant opportunities in India’s express logistics space for long-term investors such as CPPIB, and we are pleased to partner with a market leader. This investment in Delhivery builds on our Fundamental Equities Asia group’s strategy to provide strategic capital to high-quality companies in the region,” said Deborah Orida, senior managing director and global head of active equities, CPPIB.
Delhivery operates in more than 2,000 Indian cities (more than 17,500 pincodes). Offering a full range of supply chain services, it delivered its 250 millionth in 2018. In March this year, the startup secured $413 million in a funding round led by the SoftBank Vision Fund.
"We are delighted to welcome CPPIB as a new partner for our next phase of growth alongside our existing partners. The last year has been particularly exciting for us at Delhivery. We have crossed 17,500 pincodes across India, launched three new businesses, created over 10,000 new jobs and delivered handsome financial returns and liquidity for our early risk investors, while bringing in an incredible new set of patient partners who will continue to back us on our long-term ambition of becoming the operating system for commerce in India. CPPIB’s investment coincides with a major milestone for the company as we cross over 500 million in cumulative shipments to date," said Sahil Barua, founder & CEO, Delhivery.
Successfully Delivered 500 Million Shipments and Counting!!
— Delhivery (@delhivery) September 10, 2019
Congratulations Team Delhivery.
.
.#Delhivery #500MillionandCounting #SmallWorld #500MillionDone #DeliveringHappiness #SuccessfullyDelivered #SupplyChainLogistics #MakingEveryMilestoneMemorable #500MillionMoment pic.twitter.com/Kl8qHjwa0p
Delhivery was founded in 2011 by Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Kapil Bharati.
Headquartered in Toronto, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. As at June 30, 2019, CPPIB’s equity investments in India totalled C$9.9 billion across all asset classes.
“CPPIB has been active on the ground in India for nearly a decade and we continue to pursue opportunities to invest in the country as part of our focus on emerging markets. In Delhivery, we have found a highly reputable partner who fits well with our focus on supporting high-growth businesses,” said Alain Carrier, senior managing director & head of international, CPPIB.
The ecommerce rumble for logistics
