Delhivery

Edit links
Source: Wikipedia, the free encyclopedia.

Delhivery
Company typePublic
ISININE148O01028
IndustryLogistics
FoundedMay 2011 (12 years ago) (May 2011) in Delhi
Founders
  • Sahil Barua
  • Mohit Tandon
  • Bhavesh Manglani
  • Suraj Saharan
  • Kapil Bharati
Headquarters
Gurgaon, Haryana
,
India
Area served
India
Key people
  • Sahil Barua (
    CEO
    )
  • Ajith Pai (COO)
  • Kapil Bharati (
    CTO
    )
  • Sandeep Barasia (
    CBO
    )
Services
freight forwarding
RevenueIncrease ₹7,225 crore (US$900 million) (FY23)[1]
Negative increase ₹−1,066 crore (US$−130 million) (FY23)[1]
Positive decrease ₹−1,007 crore (US$−130 million) (FY23)[1]
Number of employees
Increase92,294[2] (2023)
Websitedelhivery.com

Delhivery is an Indian logistics and supply chain company, based in Gurgaon.[3] It was founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati. The company has over 85 fulfillment centers, 38 automated sort centers, 160 hubs, 7,500+ partner centers, and 3,500+ direct delivery centers, as of 2021.[4] About two-thirds of its revenue comes from providing third-party logistics and delivery services to e-commerce companies.[5]

History

Delhivery was established in May 2011 as SSN Logistics Ltd. It was initially conceptualised as a hyperlocal express delivery service provider for offline stores, delivering flowers and food locally in the city of Gurugram for the first few months since its inception.[6][7][8] During that time, the online retailing and e-commerce segment was expanding rapidly in India, with global investors showing significant interest in the industry.[9]

Founders Barua and Tandon, who were at the time working as consultants with the management consulting firm, Bain & Company, were intrigued by the size and potential of the industry, and decided to focus on the segment.[10] In June 2011, Delhivery signed its first e-commerce client, Urban Touch, which is an online fashion and beauty retailer. By August 2011, Delhivery had switched completely to offering logistics services to a number of e-commerce companies.[11]

In March 2019, Delhivery raised its biggest round of funding with a $413 million investment from SoftBank.[12] In May 2021, Delhivery revealed it has further raised $277 million in a funding round led by Fidelity, taking its market valuation to nearly $3 billion.[13]

In August 2021, Delhivery acquired the B2B logistics company, Spoton Logistics, for ₹1,600 crore (US$200 million).[14] In December 2021, it acquired California-based unmanned aircraft system company Transition Robotics Inc.[15]

Delhivery raised ₹2,347 crore (US$290 million) of funding from 64 anchor investors ahead of its initial public offering in May 2022.[16] In May 2022, Delhivery launched its initial public offering (IPO) of ₹5,235 crore (US$660 million) at a valuation of ₹35,283 crore (US$4.4 billion) and got listed on the BSE and NSE.[17]

Organization

Founder Sahil Barua is the

IIT-Kanpur alumnus Amit Agarwal, who was earlier the vice president-finance at Delhivery, took over the role of CFO. The company witnessed the exit of two founders on 30 March 2021.[18]

Investors

As of November 2021, the largest stakeholders in the company are SoftBank Group (22.78%) and Nexus Venture Partners (9.23%). Other investors with over 5% stake include The Carlyle Group, CPP Investment Board, Tiger Global, and Times Internet.[19] Delhivery has raised about US$1.4 billion from its investors across 13 private fundraising rounds until December 2021.[20]

Awards

  • ET Startup of the Year Award 2019[21][22]
  • Mahindra Transport Excellence Award 2018[23]
  • Young Turk Start-up of the Year 2016[24]

References

  1. ^ a b c "Statement of Audited Consolidated Financial Results for quarter and year ended March 31, 2023" (PDF). BSE. Retrieved 19 May 2023.
  2. ^ "About Delhivery". www.delhivery.com. Retrieved 1 May 2021.
  3. ^ "How supply-chain enabler Delhivery is rising rapidly". Business Today. 13 April 2014. Retrieved 16 January 2022.
  4. ^ "Delhivery's two co-founders exit logistics unicorn ahead of IPO". www.businesstoday.in. Retrieved 16 June 2021.
  5. ^ "Delhivery aims for $4 billion valuation". Hindustan Times. 9 June 2021. Retrieved 5 May 2022.
  6. ^ Bhattacharyya, Anushree (14 July 2015). "How logistics start-ups are delivering success for the e-commerce boom". The Financial Express. Retrieved 27 May 2018.
  7. ^ "Sahil Barua: Leading E-commerce Logistics With Delhivery". Forbes India. Retrieved 28 February 2020.
  8. ^ "Explained: How the acquisition of Transition Robotics will help Delhivery". The Indian Express. 9 December 2021. Retrieved 24 January 2022.
  9. ^ Kharpal, Arjun (8 June 2016). "Amazon plans $3 billion investment in India to challenge Flipkart, Snapdeal". CNBC. Retrieved 28 February 2020.
  10. ^ Thomas, Anu (23 August 2017). "Missing package? Delhivery's new software to automatically correct inaccurate addresses". The Economic Times. Retrieved 28 February 2020.
  11. ^ "Delhivery Becomes First Unicorn Of 2019: Read Its Outstanding Journey Over The Years!". Marketing Mind. 9 March 2019. Retrieved 28 February 2020.
  12. ^ "$413 million funding helps delhivery enter coveted unicorn club". www.delhivery.com. Retrieved 28 February 2020.
  13. ^ "Logistics firm Delhivery raises $277 million, now valued at $ billion". Business Standard India. 31 May 2021. Retrieved 15 July 2021.
  14. ^ "Delhivery buys B2B company Spoton for Rs 1,600 crore". The Times of India. Retrieved 16 January 2022.
  15. ^ "Explained: How the acquisition of Transition Robotics will help Delhivery". The Indian Express. 9 December 2021. Retrieved 16 January 2022.
  16. ^ "Delhivery raises Rs 2,347 crore from 64 anchor investors ahead of IPO". The Economic Times. Retrieved 11 May 2022.
  17. ^ "Delhivery IPO | Price band set at Rs 462-487 a share; firm valued at Rs 35,283 crore". Moneycontrol. Retrieved 5 May 2022.
  18. ^ Gooptu, Biswarup; Sharma, Samidha (21 December 2018). "Delhivery appoints COO & CBO amid top-level organizational changes". The Economic Times. Retrieved 19 February 2020.
  19. ^ "A Look At the Shareholding Pattern Of IPO-Bound Logistics Unicorn Delhivery". Inc42 Media. 5 November 2021. Retrieved 5 May 2022.
  20. ^ "Delhivery". tracxn.com. Retrieved 5 May 2022.
  21. ^ www.ETtech.com. "ET Startup Awards 2019: Delhivery has upended the highly-fragmented logistics industry - ETtech". The Economic Times. Retrieved 16 February 2020.
  22. ^ Aug 2019, ET Online | 24; Ist, 06:25 Pm, Delhivery named 'Startup of the Year' at ET Startup Awards 2019, retrieved 16 February 2020{{citation}}: CS1 maint: numeric names: authors list (link)
  23. ^ "Mahindra & Mahindra Ltd. Transport Excellence Awards". www.mahindratransportawards.com. Retrieved 17 February 2020.
  24. ^ Writer, A. Staff (1 September 2016). "Network18 honours leaders at CNBC-TV18 India Business Leader Awards". Livemint. Retrieved 17 February 2020.

External links

Stub icon 1 Stub icon 2

This article about an Indian company is a stub. You can help Wikipedia by expanding it.

Retrieved from "https://en.wikipedia.org/w/index.php?title=Delhivery&oldid=1217024036"