Delhivery bags Series-H funding at $275Million
Delhivery has raised $275 million in a primary funding round led by Fidelity Management and Research Company. Other leading public market funds also participated, the company said on Monday. With the fresh capital, Delhivery's valuation is expected to rise to over $3 Billion. The capital infusion comes in when the company has witnessed healthy revenue growth in FY21 despite the pandemic and is well poised on its path to profitability.
Sahil Barua, Delhivery's Co-founder and Chief Executive Officer, says, "We are delighted to welcome Fidelity and our other new investors to our cap-table. This round of financing significantly strengthens our balance sheet and is a statement of confidence as we plan to go public." He also added that the investment coincides with two other significant milestones as Delhivery completed 1billion cumulative shipments till date in April 2021 and will be 10 yrs old in June 2021.
Citi acted as the sole financial advisor to Delhivery on this transaction.
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