Delhivery raises $76.4M from Lee Fixel’s firm – Addition
- ByAyushi Ray | September 7, 2021
Delhivery raises $76.4M from Lee Fixel’s firm – Addition . According to regulatory filings, the fund raised by Delhivery is part of its Series I round of funding. This development comes after the company had raised $100 million from Fedex in July this year. The coming in of Lee Fixel will be a big boost for Delhivery as it is expected to come out with its initial public offering (IPO) issue soon and joins the list of other Indian startups that are going this route. Lee Fixel, who was earlier with Tiger Global, is famed for his early bets into startups such as Flipkart and Ola. He left Tiger Global in 2019 and founded Addition in 2020. He has backed startups such as Inshorts and neobank Jupiter.
Over the last ten years, Gurugram-headquartered Delhivery cumulatively raised $1.3 billion till now. It had raised $277 million from American investment firm Fidelity in June of this year at a reported valuation of $3 billion. Delhivery had also announced the acquisition of Bengaluru-based Spoton Logistics for an undisclosed value. Spoton operates a pan India network covering more than 300 locations and over 22,000 pin codes. According to information on the Delhivery website, it has fulfilled over one billion orders. It has over 20 automated sort centres, more than 67 fulfilment centres, 68 hubs, and 2,300 delivery locations delivering over 1.5 million packages a day.
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