Delhi-based delivery and e-commerce logistics firm Delhivery has acquired its rival Spoton Logistics to bolster the former’s B2B (business to business) capabilities. Spoton Logistics is a multimodal express logistics and supply chain solutions company based in Bengaluru.
The amount at which Delhivery acquired Spoton is, however, not known. Samara Capital and Xponentia, which acquired Spoton from IEP for around Rs 550 crore in 2018, are managing this transaction, news agency IANS reported.
“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,” Delhivery CEO Sahil Barua told the news agency.
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“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 be together be one of India’s leading logistics companies,” Spoton Logistics MD Abhik Mitra said. Through this deal with Delhivery, Spoton aims to “invest in improving our clients’ businesses through our investments in people technology, network and infrastructure,” Mitra added.
Delhivery had secured an equity investment worth $100 million from global delivery services giant FedEx in July to unlock India’s international trade potential. In May, the e-logistics company raised $277 million in a primary funding round led by Boston-headquartered investment firm Fidelity. Singapore’s sovereign wealth fund GIC, UK’s Bailie Gifford and Abu Dhabi’s Chimera participated in this round.
Edited by Mehak Agarwal; with agency inputs
Also read: Delhivery secures $100 mn from FedEx subsidiary ahead of IPO