Logistics company Delhivery has made an investment in direct-to-consumer-focused software-as-a-service (SaaS) company Vinculum.
The investment is the first part of a potential two-stage deal that provides Delhivery the option to further increase its shareholding in the company after six months, the company said in a statement. It didn't disclose the financial details of the transaction.
The investment is expected to help Delhivery strengthen its position as a logistics solutions provider in the D2C segment. The two companies aim to build an integrated stack to address the range of post-purchase needs of a D2C brand, Delhivery said in its statement.
"A strategic partnership with Vinculum strengthens Delhivery’s fulfillment solution to brands," said Rajaganesh S, head of supply chain solutions, Delhivery, while commenting on the investment.
This is the second acquisition made by Delhivery in six months. In December 2022, Delhivery announced that it will acquire Pune-based supply chain software firm Algorhythm Tech Pvt. Ltd for Rs 14.9 crore in cash, to enhance its integrated supply chain solutions offering.
Vinculum Solutions Pvt Ltd is a SaaS company for e-commerce and multi-channel retailers. The Noida-based company claims to have worked with 400 brands across grocery, FMCG, healthcare, cosmetics and fashion in India, South East Asia, and the Middle East markets.
“The investment lays the foundation for tech integration between both companies, collaboration opportunities, and value for our customers," added Venkat Nott, founder, and chief executive officer, Vinculum Group.
Founded in June 2011, Delhivery is a fully-integrated logistics services company providing services like delivery of express parcels and heavy goods, warehousing, supply chain solutions, and cross-border express freight services, among others.
Last month, venture capital firm Tiger Global exited its eight-year-old investment in Delhivery by selling all its remaining stake in logistics firm, according to regulatory filings. In the latest tranche, it pocketed Rs 388 crore ($47.3 million) by selling shares of the startup that was listed less than a year ago.
The exit move came at the back of US-based Carlyle sale of Delhivery’s shares in the last quarter and the share sale by SoftBank in March this year.
