SoftBank, Carlyle invest $395 million as Delhivery joins unicorn club

Logistics tech firm Delhivery Private Limited has become the newest member of India’s unicorn club after raising $395 million (around Rs 27.84 billion) in a Series F funding round led by Japanese conglomerate SoftBank. Private equity firm Carlyle Group and Chinese conglomerate Fosun International – both existing investors – also contributed to the round. Delhivery will use the fresh capital for expansion and other corporate purposes. It secured $350 million from SoftBank by issuing 1.23 million compulsorily convertible cumulative preference shares at a premium of Rs 20,063 each. It received the remaining $45 million from the Carlyle Group and Fosun International. Carlyle invested through its Mauritius-based special purpose vehicle (SPV) CA Swift Investments. SoftBank will now own a stake of 23.41 per cent in Delhivery while Carlyle will have a shareholding of 12.39 per cent.

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