SoftBank Backs Delhivery's Logistics Tech | PYMNTS.com
26 March 2019 12:00 AM IST
SoftBank leads a $413 million investment round in Indian logistics startup Delhivery, a parcel delivery service, which plans to launch its own freight services.
- India-based logistics startup Delhivery has secured $413 million in new funding, reports in The Times of India said on Monday (March 25), with Japan’s SoftBank leading the round.
- The publication said Delhivery is now valued at $1.5 billion, and plans to follow up the investment round with a share sale that could raise about $150 million, according to unnamed sources.
- Delhivery has, so far, raised a total of $675 million, according to reports.
- India’s logistics sector is a particularly busy space, with firms like 4TiGO launching in the country in 2016 to tackle what it described as a “fragmented” logistics market.
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