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Ahead of its initial public offering (IPO) this year, supply chain services provider <keyword id="1560090" type="COMPANY" weightage="20" keywordseo="Delhivery">Delhivery</keyword> has reportedly raised $277 million in its latest round of funding, taking its market valuation to nearly $3 billion. According to a TechCrunch report, Delhivery disclosed the finding in its latest regulatory filing that has been led by US-headquartered investment firm <keyword id="6405604" type="COMPANY" weightage="20" keywordseo="fidelity">Fidelity</keyword>. Other investors reportedly are "Singapore's sovereign wealth fund GIC, Abu Dhabi's Chimera and UK's <keyword id="2649768" type="PERSON" weightage="20" keywordseo="Baillie-Gifford">Baillie Gifford</keyword>". When contacted, Delhivery refused to comment on the funding at the moment. Delhivery, a leading fulfillment platform for digital commerce, has raised about $1.23 billion to date. Earlier this year, Delhivery announced to expand its footprint by opening two new tech offices in Bengaluru and Ahmedabad, that will take its workforce strength to more than 500 employees in the country. It currently has more than 350 employees and centres in Gurgaon, Goa, and Hyderabad (in India), and Seattle in the US. "The current expansion ensures we stay ahead of the curve with tech and data science being the core business differentiators," said <keyword id="2863594" type="PERSON" weightage="20" keywordseo="Kapil-Bharati">Kapil Bharati</keyword>, Co-founder and <keyword id="238078" type="COMPANY" weightage="20" keywordseo="CTO">CTO</keyword>, Delhivery. Delhivery currently provides supply chain services at over 17,500 pin codes across 2,300 cities. It has fulfilled over 850 million transactions since inception and works with over 10,000 direct customers, which includes large and small e-commerce participants, SMEs, and leading enterprises and brands. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/good-nutrition-is-vital-if-you-are-recuperating-from-the-coronavirus-here-is-what-you-should-have/articleshow/83083748.cms">Good nutrition is vital if you are recuperating from the Coronavirus — here is what you should have</a> <a href="https://www.businessinsider.in/stock-market/news/from-bhel-to-heg-and-cg-power-these-infrastructure-stocks-have-turned-10000-to-as-much-as-30600-in-just-six-months/slidelist/83104471.cms">From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months</a>

Logistics platform Delhivery raises $277 million led by Fidelity, valuation touches $3 billion

<ul><li>In an interview with Business Insider, <keyword id="1560090" type="PERSON" weightage="20" keywordseo="Delhivery">Delhivery</keyword>’s chief technology officer and co-founder Kapil Bharati shared how the company leveraged technology to make sense of the disruption in logistics last year.</li><li>Just two-three days after the lockdown was announced in March last year, Delhivery was up and running in 4,500 pincodes and after 10 days, they were operational in 15,000 pincodes in India.</li><li>Delhivery has recently opened two new tech offices or data centres and is also hiring aggressively.</li></ul>It’s been over a year since the COVID-19 pandemic began ravaging India and disrupted the normal movement across the country, as restrictions and lockdowns took over. In this situation, one of the sectors to come forward in times of need was the logistics and supply chain industry. And leading from the front is Delhivery, which may soon get listed publicly. In an interview with Business Insider, Delhivery’s chief technology officer (CTO) and co-founder Kapil Bharati shared how the company leveraged technology to make sense of the disruption in logistics and also cut down on costs at the same time. Lockdown logistics “We started a bit early, in the beginning of March 2020, and started putting in various interventions in place for COVID-19. So by the time the lockdown actually happened, we had systems in place and the operational processes in place,” said Bharati. Just two-three days after the lockdown was announced in March last year, Delhivery was up and running in 4,500 pincodes and after 10 days, they were operational in 15,000 pincodes in India. They also used technology to quickly differentiate between essential and non-essential products to ensure seamless delivery. Kshitij Chopra, co-head, products and strategy at Delhivery explained how they went about it. “We modified the algorithms to identify the government regulations on what classifies as essential and what is non essential. That not only helped us move shipments or deliveries in the network, but also helped our business development teams to proactively reach out to clients who were shipping the same categories of goods saying ‘hey, you can actually continue shipping,’ because there was so much confusion on ground,” he said. The second problem was identifying where they can ship, since the containment zones didn’t allow deliveries. “We had people on ground, where we were able to quickly coordinate with local authorities. As and when the definition of essential was changing, we were also upgrading our backend systems,” said Bharati. And also, this is helping the SoftBank-backed logistics unicorn, which has been cutting down on its losses even before the pandemic. As per reports, in FY20, Delhivery’s net loss stood at ₹284.13 crore from ₹1,781.04 crore reported in FY19. They also doubled down on fast moving consumer goods (FMCG) and pharmaceutical clients. It was only after two-three months that the demand from e-commerce portals doubled. “After 10 months, we saw the volumes coming back to pre-COVID levels, and pretty much the entire network was up and running,” said Bharati. Using data for delivery For Delhivery, the physical infrastructure is just one part of the operations – innovating on their technology and data science capabilities is another. “We use a bunch of artificial intelligence (AI) and machine learning (ML) optimisation tools to answer questions like the best route, time etc., for delivery. This helps us get to a higher quality of service at a lower cost,” said Chopra. Delhivery also has a proprietary system, which does geocoding and helps connect last mile riders with end consignees in an efficient way. “Location intelligence is one big area for us, where we continue to develop our capabilities and keep on integrating it back into our system so we can drive more and more automation and system direction. The second is customer intelligence and the third aspect is product intelligence,” said Bharati. Hiring and tech expansions Delhivery’s focus remains in expanding its tech capabilities. The startup had also recently acqui-hired retail tech platform Primaseller in March 2021. And tech leaders of the company said that this acquisition also helped them in getting the right talent into the company. “We continue to look for such companies, startups especially, who are working in the space adjacent to us or in the data, AI/ML side of things. We constantly look for such potential partners that we can partner with or even a possible acquisition,” said Bharati. Delhivery has recently opened two new offices or data centers and is also hiring aggressively. “We are doubling down on our campus hiring this year,” he said. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/after-ditching-bitcoin-elon-musk-is-now-working-on-making-dogecoin-efficient/articleshow/82628521.cms">After ditching Bitcoin, Elon Musk is now working on making Dogecoin efficient</a> <a href="https://www.businessinsider.in/cryptocurrency/news/four-reasons-why-cryptocurrency-ethereum-has-been-on-a-bull-run/articleshow/82606761.cms">Four reasons why cryptocurrency Ethereum has been on a bull run</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-a-couple-from-chennai-has-come-up-with-this-innovation-of-a-surgical-mask-vending-machine-/articleshow/82605058.cms">Even small initiatives during a pandemic can help save a thousand lives, these people are doing their bit</a>

IPO-bound Delhivery’s CTO shares how the logistics unicorn leveraged technology in a pandemic year

New Delhi, <keyword id="10588533" type="UNKNOWN" weightage="20" keywordseo="supply-chain-services-provider-delhivery">Supply chain services provider Delhivery</keyword> on Wednesday announced to expand its India footprint by opening two new tech offices in <keyword id="6354321" type="COMPANY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> and <keyword id="5065" type="LOCATION" weightage="20" keywordseo="Ahmedabad">Ahmedabad</keyword>, alongside creating over 500 <keyword id="65931" type="PERSON" weightage="20" keywordseo="New-jobs">new jobs</keyword> in the country. It currently has more than 350 employees and centres in <keyword id="6361586" type="LOCATION" weightage="20" keywordseo="Gurgaon">Gurgaon</keyword>, <keyword id="826" type="PERSON" weightage="20" keywordseo="Goa">Goa</keyword>, and <keyword id="6354552" type="LOCATION" weightage="20" keywordseo="hyderabad">Hyderabad</keyword> (in India), and Seattle in the US. The new recruitments will happen across <keyword id="6355118" type="UNKNOWN" weightage="20" keywordseo="technology">technology</keyword>, product, and data science functions by the next fiscal, the company said in a statement. "The current expansion ensures we stay ahead of the curve with tech and data science being the core business differentiators," said Kapil Bharati, Co-founder and CTO, <keyword id="1560090" type="COMPANY" weightage="20" keywordseo="Delhivery">Delhivery</keyword>. "Bengaluru has a great talent pool, and we want to tap into that. With Ahmedabad, we are further expanding into non-metro cities and will continue to add more in the future," he added. Delhivery currently provides supply chain services at over 17,500 pin codes across 2,300 cities. It has fulfilled over 850 million transactions since inception and works with over 10,000 direct customers, which includes large and small e-commerce participants, SMEs, and leading enterprises and brands. Bharati said that the fast spread of Covid-19 and initial nationwide lockdowns posed serious challenges and uncertainties in their supply chain network. "Our technology stack acted as a significant differentiator during the time, enabling us to answer critical questions such as what essential and non-essential goods could move where, and how," he added. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/heres-why-byjus-may-want-to-spend-a-billion-dollars-on-acquiring-aakash-educational-services/articleshow/80243456.cms">Here's why BYJU’S may want to spend a billion dollars on physical coaching centres</a> <a href="https://www.businessinsider.in/business/startups/news/amid-all-the-bitcoin-hype-another-indian-cryptocurrency-startup-coinswitch-kuber-gets-15-million-in-funding/articleshow/80245564.cms">Amid all the Bitcoin hype, another Indian cryptocurrency startup CoinSwitch Kuber gets $15 million in funding</a> <a href="https://www.businessinsider.in/budget/news/budget-2021-may-be-an-opportunity-to-help-indian-electric-vehicles-to-compete-with-elon-musks-tesla/articleshow/80243751.cms">India needs Elon Musk’s Tesla as well as local electric cars to compete⁠ — here’s what Finance Minister’s Budget 2021 may do</a>

Delhivery announces opening of two new tech Offices; plans expand to 500+ employees by next fiscal

New Delhi, Nov 20 () Raising the issue of scam-hit Punjab &amp; Maharashtra Cooperative (PMC) Bank in the Lok Sabha on Wednesday, a BJP member asked the finance ministry to direct the RBI to resolve the issue and ensure that all depositors get back their money.
Kapil Patil (BJP), Lok Sabha member from Maharashtra, said lakhs of people have accounts in that bank and now they are facing problem as the RBI has put certain restrictions on withdrawal of money.
He said that several of the persons do not have money to pay fees for their children.
"They observed Diwali festival in dark...I request finance ministry to direct RBI on the issue so that people get back their money," he said while raising the issue during Zero Hour.
Distressed depositors of scam-hit PMC Bank on Wednesday held a day-long protest outside the RBI office here, demanding their "hard-earned" money be returned at the earliest.
Raising an issue during the Zero Hour, Nishikant Dubey (BJP) demanded that members of ST community who change their religion should be denied the benefit of reservation.
Citing an example, he said the percentage of ST community becoming christians have increased from about 3 per cent in 1947 to about 20 per cent.
Saugata Roy (TMC) urged the government to honour Indian-American Abhijit Banerjee, who has won the 2019 Nobel for Economics.
"Parliament should give a reception to him," he said.
Abdul Khaleque (INC) demanded to change the newly appointed NRC state coordinator as the officer is giving updates on social media, which is not being appreciated.
R S Sharma (BJP) said the governmentshould take steps to prevent use of melamine, a chemical, in milk and milk products as it is "slow poison" and harmful for health.
Ritesh Pandey (BSP) asked that the Centre and the state government should releases funds for payments of salaries to Madarsa teachers in Uttar Pradesh.
Raising the issue of disinvestment of BPCL, Rahul Shewale (SS) said that the government should not consider any such proposal as privatisation of this company would impact employees and the country also.
"Privatisation of BPCL will be bad for the nation," he said.
Asit Kumar Mal (AITC) demanded immediate withdrawal of central forces from Visva-Bharati University as law and order is a state subject. RR CS BAL

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Logistics platform Delhivery raises $277 million led by Fidelity, valuation touches $3 billion

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