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SoftBank spearheads $413m investment in Indian logistics unicorn

Delhivery plans service expansion in growing e-commerce sector

Warehouses serving e-commerce businesses are springing up across India.   © Reuters

MUMBAI -- Indian logistics startup Delhivery has raised $413 million from a group of investors led by SoftBank Group's Vision Fund as it moves to expand its e-commerce services.

Existing investors Carlyle Group of the U.S. and Fosun International of China also took part in the latest funding round, which valued the company at more than $1.5 billion -- making it a so-called unicorn, or a privately held company valued at more than $1 billion. A breakdown of the investments has not been disclosed.

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