“We have been very impressed with Delhivery’s management team and the company’s strong execution capabilities, leveraging its extensive network and proprietary technology platform. We are delighted to partner with the management and expect to leverage our global experience in the logistics sector to assist the company with operational improvements and business expansion.”“We see significant potential for technology-enabled logistics in the country with the growth of e-commerce as well as increasing customer focus on on-time delivery and service levels. Delhivery, with its industry-leading service metrics and cost efficiency, is well-positioned to benefit from these future growth opportunities,” he added. Sahil Barua, CEO & Co-Founder of Delhivery, commented, “We are excited to partner with Carlyle as we continue to grow our business to meet the surging demand from our e-commerce clients, small businesses and enterprises who are rapidly digitizing their supply chain operations. We believe Carlyle’s global network and industry expertise will enable us to expedite our growth strategy.” Carlyle has invested more than US$1.4 billion of equity in over 30 transactions in India across all Carlyle funds as of December 31, 2016.
manager The Carlyle Group has acquired a significant minority stake in Indian digital commerce supply chain services provider Delhivery. Equity for this transaction came from Carlyle Asia Partners IV. Tiger Global, one of the existing investors of Delhivery, also invested additional capital. The combined investment is more than US$100 million. Founded in 2011, Delhivery provides express logistics services in over 600 cities in India and in more than 8,500 PIN-codes and operates 12 fulfillment centers for B2C and B2B fulfillment services. In addition, the company provides less-than-truckload shipping, full-truckload shipping, cross-border delivery and a range of supply chain technology products to enterprises and small businesses. Neeraj Bharadwaj, Managing Director of the Carlyle Asia buyout team, said:
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