FedEx pumps $100m into Indian logistics startup Delhivery
As per news reports, India’s fastest growing logistics start-up, Delhivery has got a substantial investment from FedEx.
FedEx, the US delivery biggie is beginning to set a foothold for further expansion into the Indian market with a $100m equity investment in Gurgaon-based logistics and supply chain startup Delhivery. The agreement is subject to regulatory approval.
Delhivery was founded in 2011 and has emerged as one of India’s fastest growing logistics startups, delivering an average of 1m packages a day across 2,300 cities. It was recently valued at $3bn after closing a $277m funding round led by Fidelity. In addition, as per reports, the logistics firm is also planning to launch an IPO soon.
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