Xpressbees is a new-age e-commerce logistics service provider that focuses on customized express delivery. It offers reverse logistics, drop shipping, last-mile delivery, payment collection, vendor management among many other services.
The funding round was led by Blackstone Growth, TPG Growth, and ChrysCapital. Existing investors Investcorp and Norwest Venture Partners took part in the round. With this round, Xpressbees became a unicorn. The money raised will be used for the next phase of growth, hiring new talent, and product development.
Xpressbees, India, was founded by Amitava Saha, Supam Maheshwari in 2015. The main aim of the company is to become a full-fledged logistics service provider with enlarging B2B and warehousing sectors. “We are currently earning almost 90% of the revenues from e-commerce whereas the remaining 10% comes from our B2B, warehousing, and overseas business. We expect the mix to change 65:35 over the next two to three years,” Supam Maheshwari. Xpressbees now operates in 3000 cities delivering more than 1.5 million parcels per day. The company has almost 100 hubs in India and operates in more than 50 airports in the country.