Delhivery raises $35 million investment

Delhivery, an e-commerce logistics services company, on Monday announced that it has raised USD 35 million (about Rs. 211 crore) from a group of investors, led by private equity firm Multiples Alternate Asset Management.

The Series C investment also saw participation from existing investors Nexus Venture Partners and Times Internet Limited.

“This round of financing will be used to invest extensively in our growing portfolio of commerce technologies and towards expanding our logistics infrastructure, fulfilment and transportation services,” Delhivery CEO and Co-founder Sahil Barua.

The company, which counts major players like Flipkart and Snapdeal as its clients, did not reveal the total amount raised in previous two rounds.

Delhivery plans to expand its network to over 250 cities by the end of this calendar year from the present more than 180 cities and expects to double volumes by the end of the financial year.