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Logistics firm Delhivery turns unicorn as SoftBank couriers $413 million

Valuing the delivery firm at close to $2 billion, SoftBank picked a massive 22.4 per cent stake

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Delhivery was, till recently, planning to launch an IPO, but experts believe those plans would be put on the backburner

4 min read Last Updated : Mar 25 2019 | 12:52 AM IST

Delhivery has become the first Indian logistics company to enter the coveted unicorn club (companies valued over $1 billion) after SoftBank invested $413 million from its Vision Fund into the company on Sunday.

Valuing the delivery firm at close to $2 billion, SoftBank picked a massive 22.4 per cent stake.

According to sources in the company, this stake buy gives SoftBank a seat on the board of Delhivery. This would help the Japanese major use Delhivery in its grand plans of creating a bigger logistics network for cab aggregating major Uber as well as Paytm.

“A strong logistics player is what SoftBank needed.

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