Delhivery makes investment into Falcon Autotech
Logistics unicorn, which is getting ready for its initial public offering (IPO), continues with its inorganic strategy with the latest being an undisclosed value of investment into Falcon Autotech.
Falcon Autotech is a Noida-based logistics automation solutions provider whose technology stack helps in managing the supply chain network for companies.
According to a statement from Delhivery, this investment is part of its objective towards creating future-ready hardware solutions. With this partnership, Delhivery expects to work closely with Falcon Autotech to design and implement new automation solutions for transportation and warehousing operations.
The partnership will also enable the bundling of the hardware automated solutions along with Delhivery’s SaaS platform.
Commenting on the investment, Ajith Pai, Chief Operating Officer, Delhivery, said, “The collaboration with Falcon Autotech strengthens our ability to drive greater speed, precision, and efficiency across our business lines."
According to Delhivery, it operates 20 automated sortation centres, 124 gateways, and 83 fulfillment centres across India as of June 30, 2021.
Naman Jain, Chief Executive Officer, Falcon Autotech, said, “This investment is a testimony to Falcon’s commitment to our customers, our design, technology, and delivery capabilities, and the product roadmap ahead.”
Delhivery has been very active in acquiring startups. In 2021 alone, it had acquired companies such as Transition Robotics, Spoton Logistics and Primaseller.
Delhivery has filed its IPO to raise up to Rs 7,400 crore which will consist of a fresh issue of shares worth Rs 5,000 crore and an offer for sale of Rs 2,460 crore from some of the existing investors.
Founded in 2011, Delhivery has emerged as the leading new-age, tech-driven logistics startup in the country. It has been backed by the likes of SoftBank, Tiger Global, Times Internet, Carlyle Group, Steadview Capital, and Addition.
This logistics unicorn has cumulatively raised around $1.37 billion in funding till now.