• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, May 12, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Logistics startup Xpressbees turns unicorn with $300M Series F round

by Balraj
February 10, 2022
in Business, India News, Startups
Reading Time: 2 mins read
0
Close-up of a female hands sticking a label on a box for delivery

Representative image | Image Courtesy: Luis Alvarez

TwitterWhatsappLinkedin

Xpressbees, a new-age logistics startup, has become the latest startup to enter the elite billion-dollar club after raising $300 million in a Series F round of funding led by private equity firms Blackstone Growth, ChrysCapital, and TPG Growth.

You might also like

FTC Pushes Back “Click-to-Cancel” Rule to July, Giving Businesses More Time to Comply

Microsoft to Introduce Screenshot Blocking Feature in Teams to Safeguard Sensitive Meeting Content

Trump Administration Ousts U.S. Copyright Chief Following AI Copyright Dispute

Close-up of a female hands sticking a label on a box for delivery
Representative image | Image Courtesy: Luis Alvarez

The round also featured participation from existing investors Norwest Venture Partners and Investcorp, bringing the startup’s valuation close to $1.2 billion. Avendus Capital served as Xpressbees’ exclusive financial advisor on this transaction.

This illustrates that the most recent round of funding elevated Xpressbees’ valuation threefold. Xpressbees’ total funding now represents $500 million as a result of this investment. The Pune-based e-commerce logistics startup will use the fresh capital to transform into a full-service logistics company, as well as to facilitate the company’s next phase of expansion, product development, and talent acquisition.

Amitava Saha, founder, and CEO of Xpressbees in a statement said, “We are excited to welcome our new partners Blackstone Growth, TPG Growth, and ChrysCapital in our growth journey. With their vast network and operational expertise, we believe that they will further fuel our efforts in pursuing newer opportunities and will help expand our footprint.”

Xpressbees was founded by serial entrepreneurs Supam Maheshwari and Amitava Saha, was spun off from e-commerce major FirstCry in 2015. The same year, it secured its first round of funding from venture capital firms including Chiratae Ventures and SAIF Partners. The company is now operating in 3000 cities, serves more than 20,000 pin codes, and delivers over 1.5 million products every day. Firstcry also owns GlobalBees, a thrasio-inspired roll-up startup that joined the unicorn club last year.

Xpressbees currently operates across 52 airports in India and has 100 hubs with more than 10 lakh sq ft of warehouse capacity. It claims to have posted a near 100 percent growth in revenue on a year-to-year (YoY) basis. It works with major e-commerce platforms such as Amazon, Flipkart, FirstCry, Myntra, Meesho, Purplle, and Shopee.

“Xpressbees is playing an important role in India’s booming e-commerce sector, which is still at an early stage and has a long runway of development,” said Mukesh Mehta, Senior Managing Director at Blackstone PE.

The logistics company competes with the likes of the IPO-bound Delhivery, which has already received SEBI’s approval. Delhivery is planning an IPO for Rs 7,640 crore, with fresh issue shares worth Rs 5,000 crore. With the addition of Xpressbees to the unicorn club, India now features five logistics unicorns: Delhivery,  BlackBuck, ElasticRun, and Rivigo. ElasticRun, the kirana-focused business-to-business logistics, turned unicorn after raising $300 million at a valuation of $1.4 billion, while Rivigo and BlackBuck are also valued at around $1 billion.

Tags: Amitava SahaAvendus CapitalBlackstoneChrysCapitalFirstCryflipkartInvestcorpLogistics startupNorwest Venture PartnersSupam MaheshwariTPG GrowthUnicornUnicorn ClubXpressbeesXpressbees Logistics
Tweet54SendShare15
Previous Post

Indian Finance Minister says government is constantly monitoring crypto

Next Post

Enphase Energy soars 24% after fourth-quarter earnings

Balraj

Balraj writes about Startup, Business, Technology related news on Techstory... For Business Enquires related to TechStory; Get in touch on: [email protected]...

Recommended For You

FTC Pushes Back “Click-to-Cancel” Rule to July, Giving Businesses More Time to Comply

by Harikrishnan A
May 11, 2025
0
FTC Pushes Back “Click-to-Cancel” Rule to July, Giving Businesses More Time to Comply

Consumers hoping for a smoother way to cancel online subscriptions will have to wait a bit longer. The Federal Trade Commission (FTC) has delayed enforcing a key rule...

Read more

Microsoft to Introduce Screenshot Blocking Feature in Teams to Safeguard Sensitive Meeting Content

by Harikrishnan A
May 11, 2025
0
Microsoft to Introduce Screenshot Blocking Feature in Teams to Safeguard Sensitive Meeting Content

In a world where virtual meetings have become the backbone of modern work life, protecting sensitive information shared on-screen is more important than ever. Microsoft is addressing this...

Read more

Trump Administration Ousts U.S. Copyright Chief Following AI Copyright Dispute

by Harikrishnan A
May 11, 2025
0
Trump Administration Ousts U.S. Copyright Chief Following AI Copyright Dispute

In a move that’s causing shockwaves across Washington and the tech world, the Trump administration has removed Shira Perlmutter, the nation’s top copyright official, just days after her...

Read more
Next Post
California might gut incentives for solar panels.

Enphase Energy soars 24% after fourth-quarter earnings

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?