FedEx to make investments $100 mln in Indian logistics firm Delhivery

A FedEx truck is pushed by downtown in Los Angeles, California, U.S., July 22, 2019. REUTERS/Mike Blake/File Photo

BENGALURU, July 16 (Reuters) - FedEx Corp will invent a $100-million fairness investment in Indian e-commerce logistics startup Delhivery as phase of a lengthy-time interval business settlement, the U.S. shipping firm mentioned on Friday.

SoftBank-backed Delhivery will promote FedEx Bid' world merchandise and products and services in India, as phase of the deal, and additionally provide gain-up and shipping products and services across the country.

FedEx will additionally switch about a of its resources from its India industry to Delhivery, enabling broader opt up admission to to the the Gurgaon-primarily based completely completely startup's pan-India community.

Don Colleran, chief executive officer of FedEx Bid, shall additionally opt up a board seat at Delhivery.

A number of Indian startups like spelt out plans to plug public to cash in on liquidity by international funds. In accordance with media reports, the startup which is eyeing a market debut as early as the fourth quarter is weighing a valuation of $4 billion. (https://bityl.co/7Fiw)

SoftBank-backed Indian digital funds startup Paytm has filed for an initial public offering, the most contemporary in a lineup of unicorns which can per chance per chance be planning to to plug public, making India one of many freshest IPO markets in 2021. Meals shipping startup Zomato's IPO subscription opened earlier this week and is waiting for checklist. read extra

Reporting by Shivani Singh in Bengaluru; Improving by Shailesh Kuber

Our Requirements: The Thomson Reuters Have faith Tips.

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