India-based e-commerce logistics provider Delhivery has raised $30m in an extension provided by conglomerate Fosun International, the Economic Times has reported.
The transaction, which values Delhivery at $650m, follows a $100m initial close in March 2017 led by private equity firm Carlyle Group. Hedge fund manager Tiger Global Management also participated in that first close.
Founded in 2011, Delhivery offers end-to-end logistics services to online retailers, servicing roughly 600 cities. Its offering includes last-mile and third-party delivery, warehouse storage, payment collection and shipping.
The company has now raised more than $255m, including $85m in a 2015 round led by Tiger Global and backed by media company Times Group’s Times Internet subsidiary as well as Multiple Alternate Asset Management and Nexus Venture Partners.
Times Internet first took part in a 2012 series A round of undisclosed size before returning for a $5m series B round in 2013 and a $35m series C round in 2014, investing in the latter with Multiple Alternate Asset Management and Nexus.