Delhivery acquires Aramex's India unit, expanding e-commerce logistics footprint
Gurugram-based Delhivery buys the India operations of Dubai courier giant Aramex, deepening its position in India's $1.35B e-commerce logistics market growing at 36%. Deal terms undisclosed. The near-unicorn has raised $257.6M across six rounds and is planning a $450M raise.
What happened
Delhivery acquires Aramex's India operations, strengthening its e-commerce logistics foothold. Deal terms undisclosed. The Gurugram-based startup, nearing
Key facts
- $257.6M raised across six rounds
- $700-800M last valuation
- $130M May 2017 round
- $450M planned raise
- Rs 1,023.05 crore operating income
- Rs 692.21 crore net loss
- $1.35B e-commerce logistics market 2018
- 36% growth
Why this matters
This deal validates roll-up momentum in India's fragmented last-mile space, so remaining independent courier and cross-border assets become more attractive targets before valuations reset upward.
What to watch
- Deal terms/valuation disclosure
- Progress and pricing of the $450M funding round
- Rival responses from Ecom Express, Blue Dart, XpressBees
- Delhivery margin and shipment volume trend post-integration
- Client churn from Aramex's existing India customers
- Close $450M raise to fund integration and capacity expansion
- Rationalize overlapping Aramex sortation and hub infrastructure
- Rebrand or fold Aramex India ops into Delhivery network
- Pursue further tuck-in acquisitions of regional couriers
- Court large e-commerce platform contracts on improved density