India's Delhivery gets $85m Series D round
Tiger Global has led a Series D round for Indian e-commerce logistics service Delhivery that netted the company $85 million. Existing investors Multiples Alternative Asset Management, Nexus Venture Partners and Times Internet also participated.
Delhivery will use the funds to grow its cataloguing and warehouse management services, and also expand its shipping to foreign markets, according to a Livemint report linked from the company's Twitter account. In addition, Delhivery is considering acquiring other companies in the e-commerce sector to enhance its services.
Founded in 2011 in Delhi, Delhivery works with the country's leading e-commerce brands including Flipkart and Snapdeal to provide logistics planning and last-mile delivery. It also assists with more specialized services such as furniture and grocery. It has more than 800 clients in 175 cities in India.
The company's Series C round in 2014, led by Multiples, raised $35 million. Nexus and Times Internet also participated in that round; the two previously led the $5 million Series B round in 2013, and Times handled the 2012 Series A round alone.
Tiger Global has made several recent investments in India's e-commerce space. Last month the firm participated in a $35 million Series B round for hyperlocal grocery delivery service Grofers, just a few months after taking part in the company's $10 million Series A round. It also led last month's $5 million Series A round for local services marketplace LocalOye.
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