Xpressbees Raises $40 Million at $1.2 Billion Valuation

Xpressbees is an Indian logistics firm that offers a range of logistics solutions, including last-mile delivery, reverse logistics, and warehousing services. Xpressbees has quickly established itself as a leading player in the Indian logistics industry, thanks to its innovative approach to logistics and its commitment to customer satisfaction. In 2022, Xpressbees joined the unicorn club. Currently, the company is present across 5,000 cities, serving over 20,000 pin codes, and delivers over 2 million packages per day.

The logistics provider Xpressbees has raised $40 million from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. This investment will be made through a secondary purchase from an early investor in the company. Xpressbees is backed by investors such as Blackstone Growth, TPG Growth, ChrysCapital, Alibaba Group, Elevation Capital, Investcorp, Norwest Venture Partners, and Gaja Capital.

Xpressbees, India, was founded in 2015 by serial entrepreneurs Amitava Saha and Supam Maheshwari. “There is a huge opportunity for tech-led disruption in logistics. We have established a leading brand but are still early in our growth story. We continue on our path to become a dominant end-to-end logistics player and look to leverage any strategic opportunities. Khazanah’s disciplined long-term investment approach makes the Malaysian sovereign wealth fund a perfect partner for us in this journey,” said Amitava Saha, Founder & CEO of Xpressbees.

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