Thursday, December 26, 2024 | 06:56 PM ISTEN Hindi

Home / Companies / Start Ups / Logistics firm Delhivery turns unicorn as SoftBank couriers $413 million

Logistics firm Delhivery turns unicorn as SoftBank couriers $413 million

Valuing the delivery firm at close to $2 billion, SoftBank picked a massive 22.4 per cent stake

Premium

Delhivery was, till recently, planning to launch an IPO, but experts believe those plans would be put on the backburner

Karan Choudhury New Delhi

4 min read Last Updated : Mar 25 2019 | 12:52 AM IST

Delhivery has become the first Indian logistics company to enter the coveted unicorn club (companies valued over $1 billion) after SoftBank invested $413 million from its Vision Fund into the company on Sunday.

Valuing the delivery firm at close to $2 billion, SoftBank picked a massive 22.4 per cent stake.

According to sources in the company, this stake buy gives SoftBank a seat on the board of Delhivery. This would help the Japanese major use Delhivery in its grand plans of creating a bigger logistics network for cab aggregating major Uber as well as Paytm.

“A strong logistics player is what SoftBank needed.

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in