Bahrain’s Investcorp invests in Indian logistics startup Xpressbees

Bahrain's Investcorp invests in Indian logistics startup Xpressbees
  • Facebook share
  • Twitter share
  • Linkedin share
  • Pinterest share
  • WhatsaApp share

Bahrain’s Investcorp, on Sunday, announced that it has invested an undisclosed sum in the Series E round for Indian logistics company, Xpressbees. On contrary, various Indian media houses reported that Xpressbees has raised $110 million in the latest funding round.

Xpressbees claims to have presence in over 2,000 towns and cities across India, and over 1,000 customers across sectors including e-commerce, pharmaceutical, consumer goods, retail, manufacturing, electronics and consumer durables.

Varun Laul, Private Equity, Investcorp India, in a press statement said,

“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. Investcorp strongly believes in the digital transformation of the Indian consumer and enterprises, and hence we are excited to partner with Amitava and the Xpressbees’ management team in their journey to build a technology-first market-defining business,”

Speaking of the development, Amitava Saha, CEO, Xpressbees, said,

“We deeply value the support and trust of our employees, customers, investors and partners who have been instrumental to our success. 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.”

Ever since Investcorp established its office India, it has invested in a number of Indian startups including Bengaluru’s FreshToHome, Hyderabad’s NephroPlus, InCred, ASG, ZoloStays, Citykart, Intergrow Brands, and Bewakoof.com. Last year, Investcorp raised $142 million for its first private equity (PE) fund to expand its portfolio of investments in India.


Want to publish your startup or branded story? Submit your details here. For all the latest news related to startups in India and MENA, follow us on Google News, Twitter and Linkedin, and like us on Facebook.


Rate this Article

About the author

Editorial Staff

The Editorial Staff at LAFFAZ encompasses fandoms of startup culture, crazy researchers, data analysts and writers who decrypt strenuous information into graspable news, produce noteworthy features and compelling stories.

Connect with us!
FacebookTwitterInstagram

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *