Get All Access for $5/mo

[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

News and Trends

Dee Piping Goes Public: Announces Initial Public Offering

Dee Development Engineers Limited, commonly known as 'Dee Piping,' has announced its transition into a public limited company.

Business Solutions

Increase Productivity with This Microsoft 365 Subscription, Now $25 Off

It can make the entrepreneur life a lot easier.

News and Trends

Unifi Capital Launches Two New Funds at GIFT City

Rangoli India Fund and G20 Portfolio are the two new funds launched by Unifi Capital, via its subsidiary UIML in GIFT City, to expand international investment opportunities.

Business News

Apple Pay Later Is Ending. Here's What's Taking Its Place.

The program was available for less than a year.


I've Grown a High-Performing Team in Just 2 Years — Here's are 5 Growth Strategies I Learned

A team's strength lies in its people's individual skills and how they synergistically come together.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.