Fixel, this time, has put greater than $76 million (Rs 558.45 crore) in IPO-bound Delhivery by way of his new fund, Addition.
Based on regulatory paperwork sourced from enterprise intelligence platform Tofler, Fixel’s Addition has put this capital within the new-age logistics agency by way of two entities. This can be a main funding, the place the capital goes to the corporate, folks conscious of the matter mentioned.
News portal Inc42
first reported the matter on Monday.
A spokesperson of Delhivery didn’t touch upon Addition’s funding.
Fixel’s funding in Delhivery comes at a time when it’s set to go public this monetary yr, seeking to increase between $800 million and $1 billion. ET reported in June quoting its cofounder Sahil Barua that the Gurgaon-based startup was
aiming to list here by the end of this financial year to raise around $500 million.
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For Addition, that is the
second investment in India, after it backed InShorts‘ location-based social networking platform Public final yr. Fixel has raised $1.2 billion in his first fund underneath Addition.
Fixel has been placing his private capital in among the early-stage startups right here as nicely although they don’t seem to be formally introduced but.
After Fixel left Tiger International in 2019,
Scott Shleifer has taken over the India investments and has been backing startups at a breakneck tempo amid document capital being pumped within the Indian startup ecosystem. As of September 3, the
capital raised by Indian startups totalled $21.2 billion throughout 627 offers – information from business tracker Enterprise Intelligence confirmed.
Delhivery has but to file the draft prospectus to formally begin the IPO course of, at a time when over half a dozen native startups have filed for IPOs.
In July, Delhivery had
raised a $100 million of strategic capital from FedEx Express, a subsidiary of worldwide logistics main FedEx Corp. Earlier than that in Could, it
closed a $277 million funding round led by US-based Constancy with Singapore’s sovereign wealth fund GIC additionally collaborating within the spherical amongst different investors. It was valued at $3 billion put up the Constancy-led funding spherical.
Additionally Learn:
ETtech IPO Watch: A decade of Delhivery
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