Delhivery exceeds US$1bn valuation

India’s biggest fulfilment and logistics firm, Delhivery, has secured a $350mn investment from Japanese conglomerate SoftBank, bringing it to a US$1.6bn valuation and unicorn status according to Inc42.

SoftBank received approval from the Competition Commission of India (CCI) on 27 February, and has led Delhivery’s Series F funding round which thus far totals $395mn according to VC Circle.

Founded in 2011, Delhivery has become a market leader in Indian supply chain services with ambitions of become the country’s commerce operating system through a combination of outstanding infrastructure, leading logistics services, and state-of-the-art tech and engineering capabilities.

SEE ALSO:

• SoftBank Vision Fund invests US$1.46bn in Grab

• SoftBank Vision Fund invests US$1.5bn in Chehaoduo Group

• SoftBank leads investment in US$1bn shipping startup funding round

• Read the latest issue of Business Chief, Asia edition, here

Its network currently consists of 44 hubs, 19 automated sort centres, 30 fulfilment centres, over 2500 direct delivery centres and over 5000 partner centres.

Masayoshi Son’s SoftBank invested in Delhivery through its $100bn Vision Fund, set up to provide capital injections to promising tech startups.

Other notable investments from the Vision Fund include a $1.46bn investment in Singaporean super app developer Grab, $1.5bn in Chinese second-hand car retailer Chehaoduo Group, $1bn in logistics startup Flexport, and $2bn in Korean ecommerce giant Coupang.