[Funding alert] Lee Fixel's Addition invests $125M in logistics unicorn Delhivery

Coordinations unicorn ´╗┐Delhivery´╗┐ on Friday declared that it got a speculation of $125 million from Lee Fixel's funding firm, Addition. The VC firm is the furthest down the line worldwide asset to put resources into the coordinations organization, following prior adjusts from other marquee worldwide financial backers. 


Lee remaining parts a drawn out supporter of Delhivery and has been putting and once again putting resources into the organization since 2015. 


In a press explanation, Sahil Barua, CEO, Delhivery, said, 


"We have a long-standing relationship with Lee and are pleased to invite him to our cap table once more. This speculation supports the trust that institutional financial backers have put in Delhivery and is an approval of the strength of our business." 


In June 2021, the Gurugram-based coordinations unicorn had brought $275 million up in its Series H round drove by Boston-settled trading company Fidelity Management and Research Company, among other driving public market reserves. 


Lee Fixel, Founder of Addition, said, "Delhivery has set up a market-driving situation by enhancing across the coordinations space and has drawn in a few marquee financial backers. We are satisfied to keep on supporting Delhivery and its new coordinations SaaS, which is very much situated to change the worldwide production network and coordinations markets." 


An outsider coordinations specialist co-op, Delhivery was established in 2011 by Sahil Barua, Bhavesh Manglani, Kapil Bharati, Suraj Saharan, and Mohit Tandon. 


With its cross country network reaching out past 19,000 pin codes and 2,500 urban areas, the startup gives a full set-up of coordinations administrations, for example, express package transportation, LTL and FTL cargo, invert coordinations, cross-line, B2B and B2C warehousing, start to finish production network administrations, and innovation administrations. 


Its foundation associates consigners, specialists, and drivers offering street transport arrangements. 


The organization has expressed it has effectively satisfied more than one billion shipments since commencement and today works with more than 17,000 clients, including huge, and little online business members, SMEs, and different ventures and brands.


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