Delhivery a logistics unicorn received an investment of $125 million from Lee Fixel’s venture capital firm, Addition. Lee has been investing in the company since 2015.

“We have a long-standing relationship with Lee and are delighted to welcome him to our cap table again. This investment reinforces the trust that institutional investors have placed in Delhivery and is a validation of the strength of our business,” said Sahil Barua, CEO, Delhivery.

Lee Fixel, Founder of Addition said, “Delhivery has established a market-leading position by innovating across the logistics space and has attracted several marquee investors. We are pleased to continue to support Delhivery and its new logistics SaaS, which is well-positioned to transform the global supply chain and logistics markets.”

Delhivery was founded by Sahil Barua, Bhavesh Manglani, Kapil Bharati, Suraj Saharan and Mohit Tandon in 2011 in Gurugram. Its nationwide network has extended beyond 19,000 pin codes and 2,500 cities. The startup provides logistics services like LTL and FTL weights, cross-border, end to end supply chains, express parcel transportation, reverse logistics, B2B and B2C warehousing and technology services. The platform connects agents, consigners and truckers to provide road transport solutions.

Earlier in June 2021, the unicorn had raised $275 million in its Series H round led by Boston- headquartered investment company Fidelity Management and Research Company.

The company has successfully fulfilled over 1 billion shipments since establishment and currently works with over 17,000 customers including large and small e-commerce participants, SMEs and other enterprises and brands.
The company is also aiming to launch its initial public offering (IPO). In October, it will most probably file its draft red herring prospectus for a $1 billion IPO. Delhivery has backers such as Carlyle Group, SoftBank Vision Fund, Fosun International and Tiger Global.