Indian logistics start-up Xpressbees turns unicorn with $300 mn round
14 Feb 22 1 min read
The Series F fundraise included a primary capital infusion of $100 million and a secondary share sale worth $200 million. Existing investors Investcorp and Norwest Venture Partners also participated in this round, with which the total funds raised by the company has exceeded $500 million.
According to data from Tracxn, Xpressbees was valued at $403 million in its last funding round in November 2020 when it had raised $110 million.
The capital from the latest fundraise will be used to achieve Xpressbees’ vision to evolve into a full-service logistics organisation, support the business in its next phase of growth, product development, and hiring talent, according to Indian media reports.
Founded in 2015 and with more than 100 hubs across India, Xpressbees works in 3,000 cities and delivers over 1.5 million packages daily.
Fibre2Fashion News Desk (DS)
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