Logistics company Delhivery in talks to raise $100 million; valuation may touch $700 million

Delhivery is likely to raise $100 million, or Rs 673 crore in fresh funding round from private equity major The Carlyle Group and Chinese conglomerate Fosun.
As per reports, if the Delhi-based logistics company raises funds, the valuation could touch nearly $700 million, or Rs 4,700 crore.

"Carlyle is leading the funding round and Fosun is also in talks to participate in the transaction,” ET quoted a person as saying.

This will be the fifth round of funding. Earlier, Delhivery has raised $85 million led by Tiger Global Management in May 2015.

"We are a profitable company and this will reflect in our results for the fiscal 2018. We are on track to hit $120 million in revenues for FY 2016-17, which is an 80% growth over last year. We should deliver close to 75-80 million parcels during this period,” Delhivery CEO Sahil Barua had told ET.

Delhivery had registered a revenue of Rs 524 crore in fiscal 2016 with losses mounting to Rs 317 crore, according to data aggregation service Tofler. The company had a revenue of Rs 228 crore and a loss of Rs 71 crore in fiscal 2015.