Delhivery gets $100 million funding from Carlyle

Logistics startup Delhivery has managed a $100 million (Rs 655 crore approx) funding round, which was led by Carlyle Asia Partners IV (CAP IV). The deal also involves CAP IV holding a minority yet significant stake in the company.

The funding round also saw participation from existing investor Tiger Global, after which Delhivery’s valuation now stands close to $700 million (Rs 4700 crore).

For CAP IV, an investor in ANE Technologies in China, this is its first big logistics bet in the Indian e-commerce, one of the largest PE investments in the space.

Also read: Indian logistic companies look forward to partnering with Alibaba for its India entry

"In India, 70% of the e-commerce market is mobile and electronics. If you look at markets worldwide, categories like apparel, home decor, grocery, furniture form a larger share in a mature market. We believe these categories will grow in India, accelerating the need for third-party logistics players. The horizontal players will continue to be the largest players while categories like grocery and furniture will see the emergence of vertical players," said Neeraj Bharadwaj, India MD of Carlyle Group.

In the past, Delhivery has raised $85 million from Tiger Global, Nexus Venture Partners, Multiples Alternate Asset Management and Times Internet Ltd.

(Image source: Youngisthan)