Steadview makes secondary investment in Delhivery

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Updated: Dec 16, 2020 8:13 AM

“Steadview is a long-term investor and we see them playing a key role as Delhivery heads towards the public markets in the next 12-15 months,” said founder & CEO Sahil Barua.

Sahil Barua, founder and CEO, Delhivery

Delhivery has added Steadview Capital as a new investor. The firm has bought $25 million worth of secondary shares from an early investor in Delhivery, the logistics company said in a statement on Tuesday.

“Steadview is a long-term investor and we see them playing a key role as Delhivery heads towards the public markets in the next 12-15 months,” said founder & CEO Sahil Barua.

Delhivery turned unicorn last year after it garnered over $400 million in a funding round led by SoftBank. As online orders surged amid the pandemic, logistics companies serviced bulk shipments. Delhivery plans to invest over Rs 300 crore on expansion in the coming 18-24 months, increasing its fleet size and setting up more mega trucking terminals.

The firm’s physical footprint across the country has doubled in the last one year to over 12 million sq ft, including the launch of mega trucking terminals in Bilaspur, Bhiwandi, and Bangalore ahead of the festive season. “The company’s tech-centric approach has been a key enabler in ensuring faster delivery speeds, decreasing logistics costs,” said Ravi Mehta, founder & CIO at Steadview Capital.

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