Logistics startup Delhivery raises close to $5M in Series B from Nexus Venture Partner
Gurgaon-based logistics company SSN Logistics Pvt Ltd, which runs the web platform Delhivery.com, has raised its Series B round of funding from Nexus Partners.
The company was started by a bunch of engineers including Bhavesh Manglani, Kapil Bharati, Mohit Tandon, Sahil Barua and Suraj Saharan. It offers a full suite of services such as last-mile delivery, third-party and transit warehousing, reverse logistics, payment collection, vendor-to-warehouse and vendor-to-customer shipping. It is backed by Times Internet Ltd, which hadacquired a minority stake in the firm in June last year.
Talking to Techcircle.in earlier this year, Tandon had stated that the company had 90 clients on board and had crossed the 2 million mark in shipments. Although positioned as a one-stop supply chain partner for e-tailers, he said the company's services are not restricted to e-commerce and it offers services to both online and offline clients. He had also said the firm was looking to raise a Series B round. Earlier this year, Delhivery.com acquired cash collection services, brand name and the operations team (comprising over 60 people) of the Hyderabad-based startup Gharpay Technology Services Pvt Ltd for an undisclosed amount.
About a week ago, another e-commerce logistics provider Chhotu.in happened to be at the receiving end of the capital crunch experienced by the Indian startup ecosystem. As it was unable to raise further capital, two of Chhotu's 13 angel investors wrote off their investment. The startup is now looking for a buyer or investor.
(Edited by Joby Puthuparampil Johnson)