Delhivery, an Indian third-party logistics provider, received a US$115m investment from Canada Pension Plan Investment Board (CPPIB).
The deal was made through CPPIB’s Fundamental Equities Asia (FEA) Group, which invests in quality corporates for the long term throughout Asia.
Following the investment, CPPIB will have one seat on Delhivery’s Board.
The company will use the funds to broaden its exposure to the logistics sector in India.
Led by Sahil Barua, Founder & CEO, Delhivery is a third-party logistics provider that operates in more than 2,000 cities (more than 17,500 pincodes) offering a full range of supply chain services.
The company provides a full suite of logistics services such as express parcel transportation, LTL and FTL freight, reverse logistics, cross-border, B2B & B2C warehousing and technology services.
Delhivery has fulfilled over 500 million transactions since inception and today works with over 10,000 direct customers, which includes large & small ecommerce participants, SMEs and over 350 leading enterprises & brands.