FedEx to invest $100-M in logistics platform Delhivery

FedEx Express, a subsidiary of NYSE-listed FedEx Corp, is to invest USD 100 million in Gurugram-based Delhivery, a logistics and supply chain services company. The companies have also entered into a long-term commercial agreement, under which FedEx Express will focus on export and import services to and from India, and Delhivery will, in addition to FedEx, sell FedEx Express international products and services in the India market and provide pick-up and delivery services across India. FedEx will transfer certain assets pertaining to its domestic business in India to Delhivery. Additionally, Don Colleran, President and CEO of FedEx Express, will join the Delhivery board.