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 centres, 29 automated sort centres, 160 hubs, 7,500+ partner centres, and 3,500+ direct delivery centres, 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 Gurgaon at the time of 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$180 million).[14] In December 2021, it acquired California-based unmanned aircraft system company Transition Robotics Inc.[15]
Delhivery raised ₹2,347 crore (US$270 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$600 million) at a valuation of ₹35,283 crore (US$4.1 billion) and got listed on the BSE and the NSE.[17]
Founder Sahil Barua is the CEO of Delhivery and Co-Founder Kapil Bharati is the CTO of Delhivery. Sandeep Barasia, Managing Director was appointed as the chief business officer in December 2018. He is in charge of the P&L across the parcel, warehousing, and freight divisions. At the same time, Ajith Pai, who was the CFO, took over the role of COO where he is in charge of the operations, engineering, HR, and finance of the company. Meanwhile, 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.[19]
Investors
As of May 2024, the largest stakeholders in the company are SoftBank Group (11.74%), SBI Funds Management (9.10%) and Nexus Venture Partners (8.96%).[20] Delhivery had raised about US$1.4 billion from its investors across 13 private fundraising rounds until December 2021.[21]
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