IPO Bound Delhivery Procures Spoton Logistics

Logistics and supply chain services firm Delhivery has announced the acquisition of Bengaluru-based Spoton Logistics for an undisclosed amount. This initiative would further reinforce its existing B2B capabilities. Spoton Logistics is one of the leading multimodal express logistics and supply chain solutions company in India.

Sahil Barua, CEO, Delhivery says "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."

Samara Capital and Xponentia, jointly acquired Spoton from IEP in 2018, are completely exiting for cash as part of the transaction.

Abhik Mitra, Managing Director, Spoton Logistics states, "Spoton is known for its focus on customer relationships and service quality, professional management and technology and engineering, which are values shared by Delhivery as well, and that sets us up to together be one of India's leading logistics companies."

He continues, "We will continue to invest in improving our clients' businesses through our investments in people, technology, network and infrastructure.”

In July, Delhivery had announced that the global giant FedEx would make a $100 million equity investment in the firm to unlock India's international trade potential.

Delhivery in May had announced that it secured $275 million in a primary funding round led by Fidelity Management and Research Company. With the fresh capital, Delhivery's valuation was expected to rise to over $3 billion.