[Funding Alert] Xpressbees Raises $110 Mn In Series E Funding Led By Investcorp, Norwest Venture Partners and Gaja Capital The startup plans to utilize the fresh capital to further mechanize its hubs and sorting centers, and expand its delivery trail across the country

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


Indian logistics firm Xpressbees announced it has raised $110 million in Series E funding round led by classified equity firms Investcorp, Norwest Venture Partners, and Gaja Capital.

The company assists more than 1,000 customers counting Paytm, Meesho, Lenskart, Xiaomi, NetMeds, and Snapdeal, to create a distribution Web for their products across the country. It has its presence in over 2,000 cities and towns, and it processes more than 2.5 million orders a day, up from about 600,000 daily orders last year.

"We have been truly impressed by their strong customer centricity and capital efficiency which has resulted in exceptional feedback from top players in the e-commerce sector," said Norwest Venture Partners' India managing director and head Niren Shah.

Xpressbees started its journey in 2012 within FirstCry, e-commerce for baby products. But in 2015, it became an independent corporation with Amitava Saha, co-founder, and chief operating officer of FirstCry, moving out to become chief executive of Xpressbees. Supam Maheshwari, who co-founded FirstCry and serves as its chief executive, is the other co-founder of Xpressbees.

"I am delighted to see the impact we are making in the logistics ecosystem in the country," said Saha, in a statement.

NVP's Shah claims that India's growing logistics industry, which estimated to be worth $200 billion, is at stake. During their festival sales last month, Amazon India and Walmart-owned Flipkart reported a record surge in their sales. The firms have created more than 150,000 seasonal jobs to accommodate the growing demand for orders. Xpressbees houses over 30,000 delivery staff.

"We continue to believe that new-age technology-led logistics players such as Xpressbees will continue to play a pivotal role both in the growth of the e-commerce sector in India," he added.

Prabhjeet Bhatla

Former Staff

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Business News

Former Pediatrics Professor Donates $1 Billion, Makes Albert Einstein College of Medicine Tuition-Free

Dr. Ruth Gottesman's husband left her $1 billion in Berkshire Hathaway stock with the following instructions: "Do whatever you think is right with it."

Social Media

With This LinkedIn Algorithm Change, Your Best Posts Could Reach New Readers for Years

It's one of many new features rolling out on the platform in 2024.

Science & Technology

How Can Marketers Use ChatGPT? Here Are the Top 11 Uses.

With the recent developments in AI and the popularity of ChatGPT, you may want to integrate AI into your marketing practices. Find out how.


5 Ways ChatGPT Will Impact Digital Marketing

ChatGPT is creating ripples across the digital landscape right now. Here are five ways it can benefit your ads, campaigns and marketing strategies.

News and Trends

Renewables Energy Focused InSolare Raises INR 66 Cr Led by Negen Capital

The Bengaluru-based startup aims to use the raised funds to further improve its capabilities and accelerate its impact in the renewable energy sector.

News and Trends

Zydus Wellness: Leveraging FMCG Trends To Turn Around Tables

Price-pack architecture, e-commerce, Internet first brands and increased penetration in smaller pockets, are the current focus of the company