Bahrain’s Investcorp has announced fresh new investments in logistics startup Xpressbees, as part of a Series E funding round with participation from a consortium of local and global investors.
Xpressbees is an end-to-end e-commerce logistics platform with a presence in more than 2,000 towns and cities in India, and with more than 1,000 customers across industries including e-commerce, pharmaceutical, consumer goods, retail, manufacturing, electronics and consumer durables.
Xpressbees is in our view at the strategic sweet spot of the consumption shift to digital and e-commerce, and the significant growth potential of the US $200bn+ logistics industry in India.”~ Varun Laul, Private Equity, Investcorp India.
On today’s date, Xpressbees handles over two million shipments daily across the country on its network.
I am delighted to see the impact we are making in the logistics ecosystem in the country. We will use this investment for further automating our hubs and sort centres, increased investments in technology and to expand our delivery footprint to cover the entire country.”~ Amitava Saha, CEO, Xpressbees.