Liquidity Events
Delhivery to acquire SCM s'ware provider Algorhythm for Rs.14.9 Cr
Publicly listed Delhivery, a Gurugram-based logistics service provider, will acquire a 100% stake in Pune-based Algorhythm Tech Pvt Ltd which delivers intelligent planning and optimization solutions for enterprise supply chain operations. The transaction, costing Delhivery INR 14.9 crore, would be completed by Jan 31, 2023. Founded by Sandeep Pendurkar, Algorhythm offers end-to-end supply chain planning and execution of products to clients across FMCG, pharma, steel, auto and telecom sectors, through its proprietary Rhythm 3.0 platform. The target company had reported a turnover of INR 3.6 Cr for FY22.
From the Venture Intelligence PE-VC Deal Database: In Jul 10, Algorhythm had raised INR 2 Cr from Ladderup and Mumbai Angels (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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