In brief: Delhivery joins unicorn club with $350m from SoftBank

SoftBank has completed its investment in logistics major Delhivery, having put in about US$350 million into the Gurgaon-based company, in the process catapulting it into India’s growing list of startups with billion-dollar valuations.

According to documents filed by the company with India’s Registrar of Companies, Delhivery has issued 1.23 million series F compulsorily convertible cumulative preference shares to SoftBank, which has invested through its Cayman Islands-registered entity SVF Doorbell.

Source: The Economic Times

Existing investors Carlyle Group and Fosun International also participated in the series F round, which reportedly values Delhivery at US$1.6 billion. At its last funding in March 2017, the startup was valued at around US$700 million.

Delhivery’s other backers include Nexus Venture Partners, Tiger Global, and Times Internet. The startup provides tech-driven logistics solutions for ecommerce and other industries.