India-based logistics startup Delhivery today announced that it has acquired Bengaluru-based Spoton Logistics for an undisclosed amount in an attempt to strengthen its B2B operations.
The company is ideally positioned to profit from synergies between its B2C and B2B express businesses for both Delhivery and Spoton clients, as well as further expand its end-to-end supply chain capabilities.
Sahil Barua, CEO of Delhivery said, “This development is consistent with our objective of being growth-oriented and building scale in each of our business lines. Over 10 years, Delhivery has established a leading position in B2C logistics, and now by combining our part truckload business with Spoton’s we will be on the path to the same position in B2B express as well.”
Kotak Mahindra Capital Company served as the financial advisor, and Shardul Amarchand Mangaldas & Co. served as the legal counsel to Delhivery, the company said in a statement.
Delhivery provides a full suite of logistics services, including express package transportation, reverse logistics, cross-border, B2B and B2C warehousing, and other services, through its nationwide network of approximately 19,400 pin codes.
Since its start, it has fulfilled over one billion shipments for over 17,000 customers, including major and small e-commerce enterprises, SMEs, and others.
Delhivery wаs fоunded in Mаy 2011 by Mоhit Tаndоn, Sаhil Bаruа, Bhаvesh Mаnglаni, Kарil Bhаrаti, аnd Surаj Sаhаrаn. Initiаlly, it wаs соnсeived аs а hyрerlосаl exрress delivery serviсe рrоvider fоr оffline stоres, delivering flоwers аnd fооd lосаlly in Gurugrаm. During thаt time, Indiа’s оnline retаiling аnd e-соmmerсe seсtоrs were rарidly grоwing, with internаtiоnаl investоrs shоwing а keen interest in the соuntry.
Рreviоusly, Delhivery аnnоunсed thаt it exраnded its fооtрrint by орening twо new teсh оffiсes in Bengаluru аnd Аhmedаbаd. It hаd stаted аt thаt time the strength in the соuntry wоuld be inсreаsed tо 500 emрlоyees. It сurrently emрlоys оver 350 рeорle. It hаs оffiсes in Gurugrаm, Gоа, Hyderаbаd, аnd Seаttle.
In March 2019, Delhivery joined India’s unicorn startup list after raising $413 million in its Series F funding round led by Softbank with participation from existing investors Carlyle Group and Fosun International.
Spoton Logistics was acquired for about 550 crores in August 2018 by Samaara Capital and Xponentia Fund Partners. With this acquisition, Samara and Xponentia are making a full exit from the company for cash.
The company was founded in 2012 when India Equity Partners purchased TNT India’s domestic operation. It employs over 1600 people and has a pan-India network that includes 300 sites and over 22,000 pin codes.
It features 13 large depots and 35 transit hubs to ensure that items are delivered on schedule and in a secure manner. It caters to a wide range of industries, including hi-tech, automotive, engineering, pharmaceuticals, electronics and electricals, and lifestyle and retail.