The Times Group-backed e-commerce logistics company has raised $100m in a Carlyle Group-led round that could be expanded to $150m with Fosun participation.

Delhivery, the India-based logistics company backed by media firm Times Group, has raised $100m in a round led by private equity firm Carlyle Group, the Economic Times has reported.

Carlyle, which invested the money through its Carlyle Asia Partners IV fund, was joined by hedge fund manager Tiger Global Management. The round valued Delhivery at more than $600m.

Fosun, the China-headquartered conglomerate that had entered talks to invest in the round last month, could add a further $30m as…