- Briefing Your roundup of Asian tech and startup news that matter
Deepti Sri · · 1 min readEx-Tiger Global partner’s firm pours $76.4m into Delhivery
“Indian logistics firm Delhivery has courted one more high-profile investor before its expected IPO (initial public offering) in the next two quarters: Lee Fixel’s Addition,” TechCrunch reported.
Details:
- Addition, the investment firm run by Lee Fixel, a former partner at Tiger Global, has poured about US$76.4 million into Delhivery, the Bengaluru’-based firm’s regulatory filings for its latest round showed.
- However, Delhivery’s filings did not reveal the names of other investors in the Series I round.
Dive deeper:
- In July, the Indian logistics giant raised US$100 million from FedEx Express, a unit of US-headquartered delivery services major FedEx Corp. The two firms also struck a partnership, under which FedEx Express would look after international export and import services to and from India on behalf of Delhivery.
- The funding comes ahead of Delhivery’s plans to go public by March next year. The company has said it expects to raise between US$400 million and US$500 million in its stock market debut.
Editing by Collin Furtado and Arpit Nayak
(And yes, we’re serious about ethics and transparency. More information here.)
