SSN Logistics, the India-based e-commerce logistics company that trades under the name Delhivery, has begun talks with investors in a bid to raise $150m, CEO Sahil Barua told VCCircle yesterday.
Delhivery raised $35m in September this year in a series C round backed by media company Times Internet, Multiples Alternate Asset Management and Nexus Venture Partners.
Times Internet had also supported a $5m series B round in September 2013 and a series A round the previous year.
Founded in 2011, Delhivery provides delivery, warehousing and payment collection services to online traders. The new funding would be raised over a two-year period.
“We are currently in talks with a few investors including the existing ones,” Barua confirmed. “The funds will be used to enhance our last-mile delivery services and real-time tracking technology.”
Delhivery currently operates 255 delivery centres across India but aims to raise that number to 5,000 by the end of 2016.
Barua explained: “The challenge with the existing logistic models is that the way it is set up is typically eight or nine kilometres away from a customer’s residence. What we realise is that our delivery centres need to be actually closer to where the customers are.”