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ET Startup Awards 2019: Delhivery wins top honours

Delhivery has gone from a last-mile delivery startup to a complete logistics and supply-chain services firm.

ET Bureau|
Updated: Aug 24, 2019, 09.19 PM IST
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Delhivery named ‘Startup of the Year’ at ET Startup Awards 2019
Delhivery named ‘Startup of the Year’ at ET Startup Awards 2019
Delhivery, which bagged the coveted Startup of the Year award, received high praise for touching remote corners of the country, encompassing more than 17,000 pin codes and creating impact by being a full-stack logistics platform.

Equating its efforts with that of India Post, jury members gave their nod to the company for the top honour in a tightly contested category.

Delhivery, which has upended a highly fragmented logistics industry, won votes for transforming from a last-mile delivery startup concentrated on the ecommerce industry to a complete logistics and supply-chain services firm.

“On behalf of the over 50,000 people who are part of the extended Delhivery team, we are very grateful to the jury and The Economic Times for selecting us as the Startup of the Year. It is a tremendous honour to be recognised by a jury of one’s betters,” said Sahil Barua, its chief executive.

Don't miss: Signed, sealed, Delhivered: ET Startup Awards 2019 zeroes in on the best of Indian startups

Delhivery started as a hyperlocal food-delivery startup, ferrying food to customers, several of whom happened to be ecommerce entrepreneurs. Enthused by the quick service – it would deliver in 30 minutes – customers asked it to also deliver their companies’ products. The company moved to ecommerce fulfilment, as it spotted an opportunity to create an integrated, technology-driven solution.

After spotting the potential of ecommerce delivery, the company started facing saturation of demand, as etailers strengthened their own logistics and moved the business in-house. This was when Delhivery showed its nimbleness and began expanding to cover all pieces of the supply chain. The firm diversified into cross-border, business-to-business logistics and integrated distribution solutions to enterprises.

“We believe that the next global integrator must emerge out of India, and for India to reach its aspiration of becoming a $5 trillion economy a sea change in logistics is inevitable. We will continue to invest in building our logistics infrastructure and technology platforms and growing our team as we have done since 2011,” Barua said.

Also Read: ET Startup Awards 2019: Made in India, made for Bharat the standout theme
Today, Delhivery processes more than 500,000 parcels a day and is valued at over $1.5 billion. It provides a full suite of logistics services, including express parcel transportation, freight, reverse logistics, and B2C warehousing and tech services. It raised funding from SoftBank Vision Fund in February, catapulting it into the unicorn league.

“There was a compelling need in India for a company like Delhivery. Also, logistics is relevant for a lot of industries like engineering goods, fashion, auto, logistics…,” said Renuka Ramnath, the MD of Multiples Alternative Asset Management and a jury member.

Ramnath and Satyan Gajwani, vice-chairman of Times Internet, recused themselves from the vote, as they are existing investors in Delhivery. Times Internet is part of the Times of India Group that also publishes The Economic Times.

Other contenders
ET Startup Awards 2019:

lenskart-founders---BCCL

Lenskart | Peyush Bansal (R) and Amit Chaudhary (L)

Key investors:
TPG Growth, Premji Invest, Steadview Capital, Chiratae Ventures, IFC, Adveq Management, TR Capital, Unilazer Ventures

Lenskart is an omni-channel eyewear solutions company. It has launched in-house brands, John Jacobs and Vincent Chase, along with a contact lens brand Aqua, which now contribute to the bulk of its overall revenue, making it the largest player in the organised eyewear market in India.

zerodha-founders

Zerodha | Nithin Kamath (R) and Nikhil Kamath (L)

Key investors: None

Zerodha is the country’s largest retail brokerage platform, executing two million trades daily. Additionally, it has begun lending, and selling mutual funds through its platform Coin. It has also launched an app, Varsity, focused on imparting education related to stock broking and investments.

curefit-founder

Curefit | Mukesh Bansal (in pic) and Ankit Nagori

Key Investors: Chiratae Ventures, Accel Partners, Kalaari Capital, Unilever Ventures

Curefit is an integrated health and fitness care platform with both online and offline presence and over 500,000 active subscribers. The vision of its founders is to foster a healthy lifestyle through food, fitness and meditation. By the end of 2020, the company plans to expand to at least 50 cities.

nykaa founder

Nykaa | Falguni Nayar

Key Investors: TPG Growth, Marico’s Mariwala family office, Hero Family office, TVS Capital Funds, Lighthouse

Nykaa is a beauty products e-tailer. The company is now looking to push new initiatives like Nykaa Man, build heft in its fashion and apparel categories, and grow offline stores as it expands beyond beauty.

Also Read

CCI clears CPPIB’s Delhivery stake buy

CPPIB set to take delivery of Delhivery stake for $150 million

Delhivery picks up Aramex India biz

Delhivery net loss widens in FY18

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