Avendus Capital advises SSN Logistics Pvt Ltd (Delhivery) on their Series C financing from Multiples Alternate Asset Management, Nexus Venture Partners and Times Internet Limited.
SSN logistics Pvt. Ltd. (Delhivery), the largest and fastest growing, dedicated e-tailing logistics solutions provider in India has announced an investment from Multiples Alternate Asset Management and its existing investors Nexus Venture Partners and Times Internet Limited. The investors have invested over INR 200 Crore as part of this round.
Delhivery, which started as a transportation services provider in 2011, now provides a range of products and services for business looking to go online including online channel integration services, strategic sourcing, catalogue management, inventory management and analytics along with multi-city fulfillment, express transportation and reverse logistics. With 4,000 employees, Delhivery handles over 70,000 transactions a day for 25,000+ merchants, 800 e-commerce companies and 80 offline retailers across its network.
With this new fund infusion, its goal is to expand the network to over 250 cities by the end of this fiscal year, scale its fulfillment business and technology portfolio.
Avendus Capital was the exclusive financial advisor to the transaction.
About SSN Logistics | Multiples Private Equity Fund | Nexus Venture Partners | Times Internet Limited
Started in 2011 with five co-founders, the firm now has over 4,000 plus employees who service a 800- client base across express and fulfillment logistics. Delhivery offers tailor-made solutions for e-tailers, brick and mortar retailers and small sellers, including boutique businesses. It offers a full suite of services such as last-mile delivery, third-party and transit warehousing, reverse logistics, payment collection, vendor-to-warehouse and vendor-to-customer shipping and more.
Multiples Alternate Asset Management Private Limited manages Indian and International capital to invest in high growth mid-sized Indian companies and management led buyouts/spin-offs of division from Indian groups. Multiples Private Equity Fund I Limited (‘International Fund’), incorporated in Mauritius is managed by Multiples Investment Advisors Limited (‘MIAL’). Multiples is the sub-advisor to MIAL and Investment Manager to Multiples Private Equity Fund.
Nexus Venture Partners is India’s leading venture capital fund, with offices in India and Silicon Valley. It has $600m under management and an active portfolio of over 50 companies including several successful exits across technology, internet, media, consumer, business services sectors. The Nexus team plays an active role in helping entrepreneurs and management teams build market leading businesses. Investors in Nexus include leading university endowments, foundations and sovereign funds.
Times Internet (TIL) is the digital venture of India’s largest media house − the Times Group. Since its inception in 1999, TIL has led the internet revolution in India and has emerged as India’s foremost digital entity that engages millions of users globally. Today, it is the largest Indian online group in India, according to comScore, with over 50 million monthly unique visitors and over 1 billion monthly page views encompassing portals in news, entertainment, local, music, movies, telecom, e-commerce & deals, online advertisement solutions, communities and more
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