Delhivery
TypePublic
ISININE148O01028
IndustryLogistics
FoundedMay 2011 (May 2011) in Delhi
Founders
  • Sahil Barua
  • Mohit Tandon
  • Bhavesh Manglani
  • Suraj Saharan
  • Arpit Anand
Headquarters
Gurgaon, Haryana
,
India
Area served
India
Key people
  • Sahil Barua (MD and CEO)
  • Ajith Pai (COO)
  • Kapil Bharati (CTO)
  • Sandeep Barasia (CBO)
ServicesDelivery, express mail, third-party logistics, supply chain management, truckload shipping, partial truckload shipping, freight forwarding
RevenueIncrease ₹7,225 crore (US$900 million) (FY23)[1]
Negative increase ₹−1,066 crore (US$−130 million) (FY23)[1]
Positive decrease ₹−1,007 crore (US$−130 million) (FY23)[1]
Number of employees
66,000+[2] (2021)
Websitedelhivery.com

Delhivery is an Indian logistics and supply chain company, based in Gurugram.[3] It was founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati. The company has over 85 fulfillment centers, 38 automated sort centers, 160 hubs, 7,500+ partner centers, and 3,500+ direct delivery centers, 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 Gurugram for the first few months since 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$200 million).[14] In December 2021, it acquired California-based unmanned aircraft system company Transition Robotics Inc.[15]

Delhivery raised ₹2,347 crore (US$290 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$660 million) at a valuation of ₹35,283 crore (US$4.4 billion) and got listed on the BSE and NSE.[17]

Organization

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.[18]

Investors

As of November 2021, the largest stakeholders in the company are SoftBank Group (22.78%) and Nexus Venture Partners (9.23%). Other investors with over 5% stake include The Carlyle Group, CPP Investment Board, Tiger Global, and Times Internet.[19] Delhivery has raised about US$1.4 billion from its investors across 13 private fundraising rounds until December 2021.[20]

Awards

  • ET Startup of the Year Award 2019[21][22]
  • Mahindra Transport Excellence Award 2018[23]
  • Young Turk Start-up of the Year 2016[24]

References

  1. 1 2 3 "Statement of Audited Consolidated Financial Results for quarter and year ended March 31, 2023" (PDF). BSE. Retrieved 19 May 2023.
  2. ↑ "About Delhivery". www.delhivery.com. Retrieved 1 May 2021.
  3. ↑ "How supply-chain enabler Delhivery is rising rapidly". Business Today. 13 April 2014. Retrieved 16 January 2022.
  4. ↑ "Delhivery's two co-founders exit logistics unicorn ahead of IPO". www.businesstoday.in. Retrieved 16 June 2021.
  5. ↑ "Delhivery aims for $4 billion valuation". Hindustan Times. 9 June 2021. Retrieved 5 May 2022.
  6. ↑ Bhattacharyya, Anushree (14 July 2015). "How logistics start-ups are delivering success for the e-commerce boom". The Financial Express. Retrieved 27 May 2018.
  7. ↑ "Sahil Barua: Leading E-commerce Logistics With Delhivery". Forbes India. Retrieved 28 February 2020.
  8. ↑ "Explained: How the acquisition of Transition Robotics will help Delhivery". The Indian Express. 9 December 2021. Retrieved 24 January 2022.
  9. ↑ Kharpal, Arjun (8 June 2016). "Amazon plans $3 billion investment in India to challenge Flipkart, Snapdeal". CNBC. Retrieved 28 February 2020.
  10. ↑ Thomas, Anu (23 August 2017). "Missing package? Delhivery's new software to automatically correct inaccurate addresses". The Economic Times. Retrieved 28 February 2020.
  11. ↑ "Delhivery Becomes First Unicorn Of 2019: Read Its Outstanding Journey Over The Years!". Marketing Mind. 9 March 2019. Retrieved 28 February 2020.
  12. ↑ "$413 million funding helps delhivery enter coveted unicorn club". www.delhivery.com. Retrieved 28 February 2020.
  13. ↑ "Logistics firm Delhivery raises $277 million, now valued at $ billion". Business Standard India. 31 May 2021. Retrieved 15 July 2021.
  14. ↑ "Delhivery buys B2B company Spoton for Rs 1,600 crore". The Times of India. Retrieved 16 January 2022.
  15. ↑ "Explained: How the acquisition of Transition Robotics will help Delhivery". The Indian Express. 9 December 2021. Retrieved 16 January 2022.
  16. ↑ "Delhivery raises Rs 2,347 crore from 64 anchor investors ahead of IPO". The Economic Times. Retrieved 11 May 2022.
  17. ↑ "Delhivery IPO | Price band set at Rs 462-487 a share; firm valued at Rs 35,283 crore". Moneycontrol. Retrieved 5 May 2022.
  18. ↑ Gooptu, Biswarup; Sharma, Samidha (21 December 2018). "Delhivery appoints COO & CBO amid top-level organizational changes". The Economic Times. Retrieved 19 February 2020.
  19. ↑ "A Look At the Shareholding Pattern Of IPO-Bound Logistics Unicorn Delhivery". Inc42 Media. 5 November 2021. Retrieved 5 May 2022.
  20. ↑ "Delhivery". tracxn.com. Retrieved 5 May 2022.
  21. ↑ www.ETtech.com. "ET Startup Awards 2019: Delhivery has upended the highly-fragmented logistics industry - ETtech". The Economic Times. Retrieved 16 February 2020.
  22. ↑ Aug 2019, ET Online | 24; Ist, 06:25 Pm, Delhivery named 'Startup of the Year' at ET Startup Awards 2019, retrieved 16 February 2020{{citation}}: CS1 maint: numeric names: authors list (link)
  23. ↑ "Mahindra & Mahindra Ltd. Transport Excellence Awards". www.mahindratransportawards.com. Retrieved 17 February 2020.
  24. ↑ Writer, A. Staff (1 September 2016). "Network18 honours leaders at CNBC-TV18 India Business Leader Awards". Livemint. Retrieved 17 February 2020.
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