by Garima Garg
India’s Delhivery raises funding from China’s Fosun International
Founder: Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Kapil Bharati
Founded In: 2011
Financing status: Continuation of equity financing raised USD 30 million from China’s Fosun
The Gurgaon-based Delhivery is an e-commerce logistics service provider. Set up in 2011, from delivering 500 products a day in two cities, it is now delivering 320,000 products everyday in 800 cities across India.
In the latest round of funding, it has raised USD 30 million from China’s Fosun International. Fosun has also invested in travel startups like MakeMyTrip and Ixigo in India. Other Delhivery investors include Carlyle and Tiger Global. This round of funding is an extension of equity financing round of USD 100 million led by Carlyle Group in March this year. The logistics platform has also received Series D funding from Tiger Global in 2015.
With the latest chunk of funds, it hopes to build on its 15,000 strong team and expand to more cities in India.
Shekhar Gupta’s The Print raises funding from Ratan Tata, Nandan Nilekani and others
Founder: Shekhar Gupta
Founded In: 2016
Financing status: Raised an undisclosed amount from business magnates like Ratan Tata and Nandan Nilekani
Delhi-based The Print has raised an unknown amount from the who’s who of India’s angel investor scene. Backed by veteran journalist Shekhar Gupta, it is yet another addition to the increasingly popular digital media in India.
The investors are reported to hold at least 20 percent stake in the company. While no formal announcements have been made by Gupta and the site hasn’t been launched either, the company has managed to raise funding from the giants of Indian business and IT industry like Ratan Tata, Nandan Nilekani and Uday Kotak.
With the money raised, The Print plans to launch its website by July this year in Delhi. It plans to hire 50 people in its initial round of hirings. In entering the digital media market, it will compete with other popular portals like Scroll.in, The Ken, YourStory in addition to the digital media arms of traditional media houses like Times Of India and Hindustan Times.
(Top photo from Pixabay)