Logistics Unicorn Xpressbees,has made it’s first acquisition. By taking over TrackOn couriers, the end-to-end supply chain solution provider will be leveraging Trackon’s franchisee network and venturing into the SME sector.
Based out of Pune, Xpressbees currently runs its delivery operations across 21,000 pin codes, and around 3,000 cities and towns in the country, will
This collaboration between two leading industry names would enable them to build significant synergies across the two organisations and change consumer experience for the better.
Amitava Saha, founder, Xpressbees
The partnership with Xpressbees would enable us to scale up the business and reach significantly. By combining our experience with the capabilities of Xpressbees, we will be able to expand our service lines to our existing clients.
PK Anand, chairman and managing director, TrackOn
On track to become a leading end-to-end logistics player in the country, Xpressbees strategy is to follow an asset-light franchise model coupled with technology deployment across all its functions to take the lead in the logistics business in India, said Saha.
Xpressbees delivers over two million packages per day with a network comprising 100 hubs across India, three million sq ft of warehouse capacity and operates across 52 airports in the country. The company in FY22 posted a revenue of Rs 1,850 and is expecting to be Ebitda positive, Rahul Agrawal, chief financial officer, XpressBees, had said. The FY23 revenue growth is estimated to be at 60-70%.
XpressBees, founded by Saha and Supam Maheshwari, was earlier a part of FirstCry, an omnichannel retailer of baby and mother care products. FirstCry became a unicorn in 2020. The logistics division, XpressBees, was spun off into a separate entity that operates in the B2C, B2B, 3PL and cross-border logistics.
