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Times Internet buys stake in logistic company Delhivery
Times Internet buys stake in logistic company Delhivery
By: iMedia News Bureau

In order to boost last mile delivery service for Indiatimes Shopping, Times Interet has acquired minor stake in Delhivery, a logistic company based in Delhi, reports VC Circle.

Currently, Fedex, Bluedart, ASL and Aramex are Indiatimes’ logistic partner. With 200 employees, Indiatimes plans to increase the workforce upto 340 till this year end. According to the reports, the company is expecting to do Rs 300 crore of revenue by the end of the current financial year.

The company had joined hands with Nokia India to launch online shop for its range of mobile phones called NokiaShop in January this year.

Meanwhile, Delhivery is a logistic company which helps e-commerce start-ups to manage their supply chain- from procurement to warehousing to packaging to India's fastest last mile delivery system.  The company helps E-Commerce partners achieve 90%+ sub 24-hour delivery timelines to customers from the time shipments are routed via them.

With a warehouse space of over 12,000 sq ft, Delhivery offers third-party warehousing and transit warehousing services to e-commerce companies and co-ordinate across the supply chain - from inbound to inventory management to packaging, dispatch and fulfillment.

Times Internet is on the verge of launching two more e-commerce sites in August and plans to partner with eight more by this year end. It also has mobile app in Android platform and soon intends to launch iPhone app.