Get All Access for $5/mo

IPO-bound Delhivery Raises $277 Mn From Fidelity, GIC & Others The ten-year-old logistics startup's valuation has soared to $3 billion

By Debarghya Sil

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Delhivery

Delhi-based logistics startup Delhivery has raised $277 million, pushing its valuation to around $3 billion. The IPO-bound startup's latest round of funding was led by US-based Fidelity. Singapore's GIC, Ballie Gifford, and Chimera also participated in the round.

While Fidelity has infused $125 million in the startup, $75 million was pumped in by GIC. The investment also comes six months after Steadview Capital bought $25 million worth of secondary shares from an early investor in Delhivery.

The ten-year-old startup which is looking ahead to go public next year is aiming to raise $650-$800 million in the market listing and is already in talks with Kotak Mahindra Capital, Citibank, Bank of America, Axis Capital, among others as per media reports. The startup will be expecting to peg the valuation around $4 billion for its IPO.

Founded by Sahil Barua, Kapil Bharati, Suraj Saharan, Bhavesh Manglani and Mohit Tandon in 2011, the startup initially was in delivering food. The startup had also partnered with Zomato in earlier days. However, it pivoted to a full suite of logistics services such as FTL freight, LTL, reverse logistics, express parcel transportation, B2C, B2B among others. At present, Delhivery delivers across 2,300 cities and 17,500 PIN codes.

Manglani and Tandon have moved on from the firm and have been reclassified as retiring and non-active promoters.

The startup claims to have completed more than 800 million transactions since the beginning and works with around 10,000 direct customers including SMEs, e-commerce companies and brands.

While Delhivery awaits its turn to go public next year, Indian startups such as Zomato, Paytm, Lenskart and Freshworks are destined to go for IPO this year. Zomato has already filed its draft red herring prospectus and is looking forward to raising $1.1 billion (INR 8,250 crore) from the market listing. Of this $1 billion will be raised from fresh equity shares and the rest through an offer for sale from Info Edge.

As per The Economic Times, Paytm has also received approval from its board and is now preparing to raise $3 billion from IPO with a valuation of $25-$30 billion.
Debarghya Sil

Entrepreneur Staff

Former Correspondent

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Marketing

He Pitched His First Business at 12 and Sold a Company for 8 Figures When He Was 23. Here's This Gen Z Marketing Expert's Next Big Move.

Griffin Haddrill built a marketing empire working with artists like Justin Bieber and Lil Nas X. Learn how he tapped into Gen Z's digital culture and turned viral campaigns into a business model.

Growing a Business

5 Effective Strategies to Boost Your Business's Online Presence

Boosting your online presence in 2025 is the key to success for businesses looking to grow. Working on your branding and reputation management is important to drive more sales and improve conversion.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.

News and Trends

2025 to Test AI Ideas for Viability: Sequoia's 3 Predictions

If 2024 was AI's primordial soup year, 2025 will be about the foundations solidifying, according to David Cahn, partner at Sequoia Capital

Personal Finance

This Candlestick Trading Masterclass Can Help You Unlock Passive Income for Your Business

Learn what it takes to make smart investments in the stock market.