The Indian Wire » Startups » Logistics unicorn Delhivery reports 57.9% surge in revenue with INR 1,695 cr for FY19
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Logistics unicorn Delhivery reports 57.9% surge in revenue with INR 1,695 cr for FY19

Delhivery, a logistics unicorn startup, has reported 57.9 per cent revenue bump with INR 1,695 crore for the financial year 2019 against INR 1,073 crore in the year 2018, reported Yourstory.

While, the losses for the FY19 stood at INR 1,772 crore from the INR 692 crore loss in 2018. The expenses almost surged twice at INR 2,995 crore for FY19, against INR 1,421 crore in FY18.

Delhivery, based out of Gurugram, was founded in 2011 by Sahil BaruaMohit TandonBhavesh ManglaniSuraj Saharan and Kapil Bharati. The company’s vision is to become the operating system for commerce in India, through a combination of world-class infrastructure, logistics operations of the highest quality and cutting-edge engineering and technology capabilities.

Logistics businesses usually receive the highest order values from direct corporate tie-ups, a strong point of Blue Dart, as per the one of the above cited sources.

Recently, Delhivery had reportedly, been in a dialogue to acquire the B2B operations of the Blue Dart Express Ltd and Gati Ltd.

For details: Logistics unicorn startup Delhivery in talks to acquire B2B operations of Blue Dart Express and Gati: Sources

In September this year, the Canada Pension Plan Investment Board (CPPIB) invested close to $115 million in Delhivery. The investment was made through CPPIB’s Fundamental Equities Asia (FEA) Group, which performs fundamental research and invests in quality corporates for the long term across Asia.

Delhivery claims that currently, it operates in more than 2,000 cities (across more than 17,500 pincodes), offering a full range of supply chain services.

Delhivery today works with over 10,000 direct customers, which includes large and small ecommerce participants, SMEs, and over 350 leading enterprises and brands.

Some of the significant logistics startup under the similar roof include Ecom ExpressEkart LogisticsBlue DartXpressbeesDotZot, etc.

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