IPO bound Delhivery to invest in Noida based automation player Falcon Autotech
- ByTejika Bajaj | January 6, 2022
The IPO bound logistics firm Delhivery recently announced an investment in a Noida based automation firm Falcon Autotech. The investment amount would range anywhere between $20-30 million as per sources. The same has however not yet been disclosed by the parties involved.
The investment by Delhivery is in line with its strategy to back “future-ready” hardware solutions with its operations. Falcon Autotech offers intralogistics automation solutions as well as sortation systems along with various services related to logistics and warehousing.
Expressing his views on the recent investment which is yet to come through, the Chief Operating Officer at Delhivery, Ajith Pai said, “The collaboration with Falcon Autotech strengthens our ability to drive greater speed, precision, and efficiency across our business lines. The partnership will also enable the bundling of hardware automated solutions along with Delhivery’s SaaS (software-as-a-service) platform, one of the proposed growth verticals for the company in national and international markets.”
This announcement comes just a few months after the logistics startup filed its DRHP (draft red herring prospectus) with SEBI for an IPO worth INR 7,460 crore scheduled to mark its debut this year. Apart from providing its investors as well as its employees an exit, the IPO would enable the startup to raise capital for its internal business initiatives.
Follow Startup Story
Related Posts
