Samreen Ahmad · · 1 min readIPO-bound Delhivery nets $125m from Lee Fixel’s investment firm
Indian logistics unicorn Delhivery has raised US$125 million from Addition, the venture capital firm of former Tiger Global partner Lee Fixel.
Photo credit: Delhivery
Fixel has been investing and reinvesting in Delhivery since 2015, according to a company statement. Other investors in Delhivery include FedEx, Canada Pension Plan Investment Board, and Tiger Global Management.
SoftBank-backed Delhivery, which is currently valued at over US$3 billion, is eyeing a March quarter listing at a US$4 billion valuation. This comes as Nykaa, Paytm, PolicyBazaar and other Indian tech companies are planning to go public.
See also: Paytm IPO: 8 key points about India’s largest stock market debut
Established in 2011, Delhivery covers over 17,000 PIN codes in India, providing a full suite of logistics services such as express parcel transportation, reverse logistics, and end-to-end supply chain services. It also offers cross-border, business-to-business, and business-to-customer warehousing.
“We are pleased to continue to support Delhivery and its new logistics software as a service, which is well-positioned to transform the global supply chain and logistics markets,” said Fixel.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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