Delhivery Startup Story - Disrupting India’s Logistics Industry!

Rishabh Rathi Rishabh Rathi
Nov 22, 2021 14 min read
Delhivery Startup Story - Disrupting India’s Logistics Industry!

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Delhivery.

Logistics has always been an important sector for any country, including India, but the space had never seen such a ground-breaking turn before Delhivery came into being. Proving themselves since 2011 as a great startup, this company is now like a backbone for the logistics industry.

Delhivery is currently one of the leading players in the logistics space in the country. It offers a full suite of services such as last-mile delivery, third-party and transit warehousing, reverse logistics, payment collection, vendor-to-warehouse, and vendor-to-customer shipping, and more.

Delhivery became a Unicorn in 2019 when it raised $413 million in a Series F round led by SoftBank Vision Fund, Carlyle Group, and Fosun International. It was then valued at $1.5 billion. Currently, Delhivery is valued at over $3 Bn.

Read this article to know about Delhivery Company Profile, Founders, Business Model, How it Started, Growth, Competitors, Funding, and Investors.

Delhivery - Company Highlights

Startup Name Delhivery
Headquarter Gurgaon, India
Sector Logistics
Founders Kapil Bharati, Mohit Tandon, Sahil Barua, Suraj Saharan, Bhavesh Manglani
Founded May 2011
Parent Organization Delhivery Pvt Ltd
Total Funding $1.3B
Revenue INR 2800 crore (FY2020)
Valuation ~ $3 billion

Latest News - Delhivery

November 22, 2021 - Delhivery allots 12,17,500 equity shares, which are estimated to be worth around INR 230.8 Cr upon ESOP conversion for its 87 current and former employees. Besides, the nominal price of the equity shares has been reduced from Rs 10 to Re 1.

November 2, 2021 - Delhivery has already filed in its DRHP with SEBI. The logistics and supply chain services company is in talks to raise around Rs 7,460 crores in its upcoming IPO.

October 14, 2021 - Delhivery has roped in 3 new independent directors aiming for its upcoming IPO round. Kalpana Moparia, Chairman of JP Morgan, South and South East Asia; Romesh Sobti, Director of the board of Aditya Birla Capital Ltd and several other companies, and Sugata Gupta, an independent director of the board of Ashok Leyland and managing director and CEO of Marico Limited, are the new directorial faces of Delhivery.

October 6, 2021 - Delhivery is all set to be converted to a public entity ahead of its upcoming IPO. Delhivery Private Limited will be converted into Delhivery Limited, as per the latest regulatory filings of the company.

Delhivery - About and How it Works
Delhivery - Founders/Owners and Team
Delhivery - Partnered with Volvo
Delhivery - Target Market Size
How was Delhivery Started?
Delhivery - Business Model and Revenue Model
Delhivery - Growth and Revenue
Delhivery - Funding and Investors
Delhivery - Name, Tagline, Logo
Delhivery - Competitors
Delhivery - Acquisitions
Delhivery - Future Plans
Delhivery - FAQs

Delhivery - About and How it Works

Delhivery is a prominent courier services, logistics, and supply chain solutions company that enthusiastically works with individuals and businesses. Founded back in May 2011, Delhivery is headquartered in Delhi and provides a range of services, including last-mile delivery, third-party and transit warehousing, reverse logistics, payment collection, vendor-to-warehouse, and vendor-to-customer shipping, and more.

The company is backed by Times Internet Ltd, which had acquired a minority stake in the firm in June last year.

Having three responsibilities on their shoulders - fulfillment, omni-channel, and data services, the company’s focus is to deliver the best service without any waste of chances in solving the customers' problem.

It provides products and services intending to build trust and improve the lives of consumers, small businesses, enterprises, and their growing team of employees and partners. They are disrupting India’s logistics industry through their proprietary network design, infrastructure, partnerships, and engineering and technology capabilities.

Delhivery brings unparalleled cost efficiency and pan-India reach to the businesses of over 10,000 customers. It is driven by its mission to shrink time and distance, making the world a smaller place for its customers and over a billion consumers they serve. A very normal company that did a very abnormal business, gaining a beautiful profit and becoming a huge success, It is the new phase of delivering items.

They aim to compete as India’s largest and most profitable fulfillment company for e-commerce. Having the 3 categories of customers for their company, Delhivery is constantly aiming to provide them the good quality products with better improvement every day and with trust.

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Delhivery - Founders/Owners and Team

Delhivery was started by a bunch of engineers including Bhavesh Manglani, Kapil Bharati, Mohit Tandon, Sahil Barua, and Suraj Saharan.

Bhavesh Manglani, Kapil Bharati, Mohit Tandon, Sahil Barua, and Suraj Saharan
Founders of Delhivery

Sahil, Suraj, and Mohit were day job men having a great aspiration to start their own venture, but they knew that it takes a lot to have a successful startup. All three men worked in Bain & Co in 2008 but two of them Suraj and Mohit worked at the management consulting arm of the company.

“We didn’t have the faintest idea what we were going to do. We decided to quit on one fact, we realized there is only so much you can learn in consulting, and grow,” says Sahil.

They took a huge furlough together for 6 months that is when they decided to give up their jobs and started working for their dreams.

Bhavesh Mangalin (COO) is the co-founder of Delhivery. He successfully has 3 years of experience at telecom companies like Idea cellular and reliance communication and 18 months of misc startups,

Kapil Bharti (CTO) graduated from the Indian Institute of Technology (Delhi), joined the two genius minds later to complete their dreams as well as to make all of them grow rich in their business.

Besides these great minds, some of the important sectors are managed by another core team of three members-

  • Aveek Nandi (Director, product design and strategy)
  • Deepak Dhyani (Vice President at Delhivery)
  • Sandeep Barasia (Joint MD at Delhivery).

This wonderful startup company started with five employees and now it’s standing on its own as an organization employing more than 17,000 people, with a presence in more than 13+ countries.

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Delhivery - Partners with Volvo

Recently (August 2020), Delhivery partnered with Volvo to add tractor trailers into its express network.

"This is the first major deployment of tractor trailers in express trucking which is a significant step for Delhivery towards getting ready for the future and towards expanding our network and building our leadership position in this market further," Says Sahil Barua, Co-Founder, Delhivery

Delhivery - Target Market Size

The country's logistics industry, which is worth around USD 160 billion is likely to touch USD 215 billion in the next two years with the implementation of GST.

And here comes the biggest reach of Delhivery that is, they have over 1400 serviceable pin codes on their list and 19,990+ sq ft of warehouse space in Delhi as well as in Bangalore. Delivery has a lot of partners with whom they partnered to increase their product reach and to cope up with those partners, the company also offers third-party warehousing and transit warehousing to its partners.

To increase the quality of the products delivered by Delhivery, Suvayu Ali, (Data Scientist at Delhivery) kept a special check on the market of these technical matters with an algorithm, which is one of the projects that a team of data scientists at Delhivery, led by former entrepreneur and Facebook data scientist Santanu Bhattacharya is working on.

The very special achievement of Delhivery is that they are now in 13+ cities already which made this business easier to raise more funds for the company. The target of this company is to have branches in over 250+ cities by the end of this fiscal year.

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How was Delhivery Started?

It was approximately half-past eleven at night when Suraj and Sahil ordered food from a nearby restaurant in Gurgaon. When they had the delivery man standing in front of their door, they got chatty with the delivery person, who spoke of the problem of unemployment that was about to break out. This made the founders rush down to the store and talk to the manager. Soon they were at the restaurant, talking to the owner, who further elaborated his plans of closing down the business and moving his staff elsewhere. Here's where Sahil and Suraj decided to start their delivery business, Delhivery. Yes, they hired all of them!

Sahil narrated the exact conversation between him and the owner of the restaurant - “It was 11.30 at night, I still remember, we took our bikes and went to meet the owner, Anuj Bajaj, who was surprisingly still there. He said he was shutting the restaurant down. He was really happy we had come because he wanted his staff to relocate somewhere. We said bring it on, we’ll hire everybody."

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Delhivery - Business Model and Revenue Model

Delhivery has become India’s leading supply chain services company. It is one of the India's largest B2B B2C and C2C Logistics Courier Service Provider. Delhivery charges Lowest/economical shipping rates for providing its service. There are no No Setup Fee or Subscription Charges!

The services offered by Delhivery can be divided into 3 primary departments

  1. Warehousing - Flexible warehousing across 40+ cities in India
  2. Transportation - Largest pan-India reach across 19000+ pin codes and 2500+ cities
  3. Commerce - Ready integration with Shopify, WooCommerce, Magento & Opencart.

Delhivery - Growth and Revenue

The company initially was a small business of only 5 members in total for all their work from accounts to product service to delivery hookups, but as the time passed this company hired more than 15,000 people as their deliverymen, accounts keeper and to keep their customers satisfied if there is any issue in the product or same.

The company claims to have a turnover of INR 2800 crore during FY2020 and have plans to reach INR 6000 - INR 7000 crore in the next two years.

The growth highlights as posted by Delhivery in 2021 are as follows:

  • The company boasts of a collection of 85+ packing warehouses in total across the country.
  • It has around 24 automated sort centers.
  • Delhivery has around 75+ hubs,
  • 7,500+ partner centers,
  • and around 50,000 employees.
  • Furthermore, Delhivery claims to possess a capacity of processing more than 15 lakh (around 1.5 million) parcels per day in over 17,500 pin codes in India across 2,300 towns and cities.

All of these are possible mainly because of its network of nearly 7,000 drivers and over 5,000 trucks.  Delhivery is also building some of the Country's Largest Trucking Terminals at key locations in Delhi, Mumbai, Bangalore, Hyderabad, Kolkata, and Chennai.

The company culture aims at making every individual experience working in trenches as a delivery boy, for at least twelve hours a week, to promote teamwork and efficiency of the employees.

In an interview, Sahil Barua quoted some wonderful lines for his employees “After every 20 minutes I get up and go talk to a team member. Thanks to this, I know everyone in our office by their first name. We have that kind of openness in the office where people can tell us what they think. That is what keeps us going”.

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Delhivery - Funding and Investors

Delhivery has raised a total of $1.39B in funding over 14 rounds. The last round of the company came in on September 24, 2021, led by Addition. This has helped it raise around $125 million. The company also witnessed funds equal to Rs 558 crores ($76.34 million) in the previous round dated September 6, 2021. The Series I round of funding was also led by Lee Fixel's Addition LLC.

Here is a list of all the funding rounds of Delhivery:

Date Stage Amount Investors
September 24, 2021 - $125 million Lee Fixel's Addition LLC
September 6, 2021 Series I $76.34 million Lee Fixel's Addition LLC
July 16, 2021 - $100 million FedEx Express
May 30, 2021 Series H $277 million Fidelity Investments
December 15, 2020 Secondary Market $25 million Steadview Capital
September 9, 2019 Secondary Market $115 million Canada Pension Plan Investment Board
June 17, 2019 Secondary Market $150 million Canada Pension Plan Investment Board
March 24 2019 Series F $413 million SoftBank Vision Fund, Carlyle Group, Fosun International
May 22, 2017 Series E $30 million Fosun International
March 23, 2017 Series E $100 million Carlyle Group, Tiger Global, Fosun
May 6, 2015 Series D $85 million Tiger Global Management
September 8, 2014 Series C $35 million Multiples Alternate Asset Management Private Limited
September 30, 2013 Series B $5 million Nexus Venture Partners
April 2012 Series A $1.5 million Times Internet Limited

The logistics giant has allotted 146,961 Series I Compulsory Convertible Preference shares (CCPS) to Addition LLC valued at Rs 37, 900 per share, according to the MCA filings of the brand as of September 6, 2021.

Delhivery is eyeing an IPO round of around $1 billion and will likely file its Draft Red Herring Prospectus this month, as per the reports dated October 7, 2021. Furthermore, the company has already received approval from its shareholders to turn into a public entity and will be soon converted from Delhivery Private Limited to Delhivery Limited.

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Delhivery has stuck with a simple but eye-catching logo where the name of the brand is displayed in black.

True to its tagline- 'Changing the world, one shipment at a time', Delhivery is changing the logistics market with a new strategy every day.

Delhivery - Logo

Delhivery - Competitors

As Delhivery is a logistics company, and obviously, Delhivery thrives amidst huge market competition from some of the companies like:

  • Ecom Express
  • DotZot
  • FSC (Future Supply Chain)
  • BlackBuck
  • Delex
  • ECOM express
  • Ekart Logistics
  • Shadowfax and more.

It is because of the competition in the market that customers get different choices, and all of them more or less closely match each other when it comes to the quality.

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Delhivery - Acquisitions

Delhivery, which is eyeing the filing of its Draft Red Herring Prospectus (DRHP), has already issued bonus shares to shareholders. The logistics and supply chain startup held an extraordinary general meeting (EGM) on September 29, where it has announced that it would allot fully paid up 1.68 Cr bonus shares worth INR 10, to equity shareholders. This will be in the ratio of 9:1.

According to Delhivery’s regulatory filings, as accessed by Inc42, the logistics unicorn has allotted 1,68,46,803 shares of INR 10 each fully paid up — taking the total number of shares from 18,71,868 to 1,87,18,670 bonus shares, which will be allotted to 90 existing equity shareholders of the company.

With around 12.29 Lakh bonus shares allotted, Founder Sahil Barua boasts of having the highest shares when it comes to the founders of the startup. The other shareholders include Times Internet and CPPIB, which were allotted 28.53 Lakh and 23.80 Lakh shares respectively, which is the highest that the investors of the company got.

Furthermore, the company also decided to expand its employee stock option plans (ESOP) pool, which will be overlooking its $1 Bn-IPO. It will now be allotting 9,545 shares (INR 2,895 each) valued at INR 2.84 Cr to 12 of its employees. The startup has previously allotted around 11,614 shares valued at $126.6K to its employees in 2019.

Delhivery - Future Plans

As of June 2021, Delhivery is all set to launch its first IPO in 2022. Also, Delhivery will continue to aggressively invest in building trucking infrastructure and is planning to invest up to Rs 300 crore in next 24 months to expand its fleet size. The company will plan its IPO soon, which would be valued at $1 billion, according to the reports dated August 25, 2021.

The company claims to have a turnover of Rs 2800 crore for FY2020 and have plans to reach Rs 6000 - Rs 7000 crore in next two years.

“Two years ago, when we were trying to go public, it so happened that the timing of our decision to go public coincided with the Indian general elections, and it was probably not the best time to go public because a lot of focus was going to be on elections…plus, there was already a private capital pool that was available, so we basically, pushed it back. Our view is that in the next 12-18 months, we see us going back into the public market," Says  Sandeep Barasia, Chief Business Officer, Delhivery

Delhivery - FAQs

Who are the Founders/Owners of Delhivery?

Delhivery was founded by Bhavesh Manglani, Kapil Bharati, Mohit Tandon, Sahil Barua, and Suraj Saharan.

Who is the Parent Company of Delhivery?

Delhivery Pvt Ltd

What is Delhivery?

Delhivery offers a full suite of services such as last-mile delivery, third-party and transit warehousing, reverse logistics, payment collection, vendor-to-warehouse, and vendor-to-customer shipping, and more

Who is the CEO of Delhivery?

Sahil Barua is the Founder and CEO of Delhivery.

Who are the Top Competitors of Delhivery?

As Delhivery is a logistics’ grown company, it is obvious to have a great competition in the market some of the very state rivals are Ecom Express, DotZot, FSC (Future Supply Chain), BlackBuck, Delex,, etc.

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