Logistics company Delhivery is in talks with The Carlyle Group and Chinese conglomerate Fosun to raise fresh funding of about $100 million (Rs 673 crore) according to two people aware of the talks, who estimate the Delhi-based firm could be valued at about $700 million (Rs 4,700 crore), if the transaction is successful.
It will be the fifth round of funding for Delhivery. It raised Rs 570 crore in May 2015 led by led by Tiger Global Management in May 2015, followed by a bridge round of 67 crore from existing investors Tiger Global, Times Internet and Nexus Venture Partners last year.
Technology enabled businesses are expected to emerge as the next big market. The market recently has grown from $1.4 billion in 2015 to $ 9.6 billion by 2020 based on the report by investment bank Avendus Capital. In the past year, this sector has seen closure of companies like Gojavas and consolidation of companies like Opinio and Runnr.
Delhivery had registered revenue of Rs 524 crore in fiscal 2016 with losses amounting to Rs 317 crore, according to data aggregation service Tofler. The company had revenue of Rs 228 crore and a loss of Rs 71crore in fiscal 2015.
