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Warehouse and delivery startup Deliverr said Wednesday it has raised an additional $170 million, including a $135 million Series D funding round led by venture capital firm Coatue and a $35 million convertible note led by Brookfield Technology Partners. Existing investors such as 8VC, Activant Capital and GLP also participated, San Francisco-based Deliverr said.
The latest round brings to $240 million the total capital raised by the company, which positions itself as an asset-light warehouse and next-day delivery provider that handles warehousing, storage and delivery for merchants that lack the resources and desire to do it themselves. Deliverr owns no warehouses or delivery vehicles and has no labor on its payroll. Instead, it contracts with warehouse operators for space of varying sizes and does the same with delivery partners. Deliverr uses its own technology to underpin the operation.