Logistics and supply chain startup based in India Delhivery has raised $277 million ahead of planned IPO. With this funding, the supply chain services company is now valued at $3 billion.
The funding round was led by Boston-based investment platform Fidelity. The new round also saw participation from GIC- a sovereign wealth fund, Chimera, and UK-based Baillie Gifford.
The company aims to become the operating system for commerce in India, through a combination of infrastructure, logistics operations and engineering and technology capabilities.
Prior to this, the SoftBank-backed startup has secured $25 million from Steadview Capital. The investment firm has purchased secondary shares from an early investor of the logistics firm.
Founded in 2011, it entered the unicorn club in 2019 with a funding of $400 million from SoftBank.
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