The Delhivery IPO — a giant step towards building the operating system for commerce in India

When we backed Delhivery in the early days in 2013, the founders were trying to solve a real problem of reliable and cost-efficient logistics for India’s fledgling e-commerce industry. The network architecture, processes, and transport modalities of incumbent logistics providers were geared toward corporate parcels and not e-commerce. As investors in various leading e-commerce platforms, we understood this pain point well.

Some of the larger e-commerce players in the country were building their own captive logistics and there was a common view emerging that they will be able to also service the long tail of e-commerce. We took a contrarian view that India is going through a digital revolution that will require a new-age supply chain beyond e-commerce and this will be built by an independent company. To build an efficient supply chain business in the country, the use of technology and data is very critical. We liked the technology-first thinking of the Delhivery team.

Over the last decade, Delhivery has built an integrated supply chain and logistics business in the country on the back of strong technology and data analytics that serves both consumer and business commerce domestically and cross border. The company had a successful IPO on May 24, 2022, one of the few globally of this scale in 2022. An important milestone for the company. We are grateful to the Delhivery team for their partnership and wish them every success as they begin their next phase of growth as a public company.

Team Nexus