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InnoVen Capital invests $4.9 million in Logistics Firm Xpressbees

Xpressbees, which is the startup backed by the Alibaba Group has now secured Rs 35 crore in the venture debt funding round from the InnoVen Capital Pvt Ltd.

The company as of now has a plans to use the funds to beef up the support growth and infrastructure.

The latest funding takes the total capital secured by the Pune based company till date to $56 Million. It had also last raised the funds in the month of January 2018 when the Chinese Giant Alibaba invested around $35 Million as a part of the funding round of Series D.

Some other investors include the SAIF partners, NEA, IDG Ventures India, Valiant Capital, and Vertex Ventures.

Xpressbees started as the logistics arm of the Pune based baby products retailer FirstCry about ten years ago. In the month of Septemeber 2015, it was divided by the FirstCry and commenced the independent operations as BusyBees Logistics Solutions Pvt Ltd.

Picture Credits: Xpressbees

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