SoftBank Leads Delhivery’s $413 Million Funding Round; Existing Investors Carlyle And Fosun Also Take PartMasayoshi Son, chairman and chief executive officer of SoftBank Corp. (Koki Nagahama/Getty Images)

In a new financing round led by Masayoshi Son's SoftBank Vision Fund, logistics company Delhivery raised $413 million. Existing investors Carlyle and Fosun also participated in the funding round, says a report in Business Today.

"We are glad to add SoftBank as a key partner, and further expand our partnership with Carlyle and Fosun as we build out our vision of creating the operating system for commerce in India," the company said in a statement.

"We will be scaling up our newer warehousing and freight services through large investments in infrastructure and technology and global partnerships in addition to improving the reach, reliability and efficiency of our transportation operations and sharing these benefits with our customers and partners," said Delhivery chief executive officer Sahil Barua.

"With the new infusion of funds, Delhivery plans to rapidly scale up its reach from 15,000 to 20,000 pin codes by the first quarter of the financial year 2019-20, aggressively grow e-commerce market share investment, and expand its end-to-end supply chain platform to enterprise customers and SMEs (small and medium enterprises)," the company added.

Delhivery was founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Kapil Bharati. It operates in more than 1,200 cities across India, majorly providing services to e-commerce companies like Flipkart and Amazon to enhance their connectivity reach by providing them logistical support.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement