Indian startup Delhivery has raised $100 million from FedEx Express, a subsidiary of global logistics giant FedEx Corporation. As part of this new transaction, FedEx Express will focus on international export and import services to and from India, and Delhivery will offer FedEx Express international products and services to the Indian market, the companies said in a joint statement. Will sell and provide pick-up and delivery services across India.
According to a report in a leading portal, FedEx will also transfer some assets related to its domestic business in India to Delhivery, which is looking to make an initial public offering in 2022. Additionally Don Colernan, President and CEO of FedEx Express, will be nominated to the Board of Directors of Delhivery. Delhivery is an IPO-bound logistics and supply chain services startup.
Delhivery provides logistics services like express parcel transportation, reverse logistics, cross-border, B2B and B2C warehousing, end-to-end supply chain service and technology services in India. The company claims to have handled over 1 billion shipments since its inception in 2011 and works with over 15,000 customers. Including large and small e-commerce participants, SMEs and other enterprises and brands.