The Times Internet-backed logsitics company has so far raised $125m, and has begun talks with new investors for a round that would value it at $850m.

Delhivery, an India-based logistics service provider backed by media firm Times Group, is looking to raise $150m in series E funding, the Times of India (TOI) reported on Friday.

Delhivery provides a range of logistics and related services for e-commerce companies, including delivery, warehousing and payment collection.

Sources told TOI the company is seeking to raise the cash at a $700m pre-money valuation, and has been in talks with investment firms DST Global and the Singaporean state-owned GIC, as well…