Total amount raised
$622.4 Millions
Latest funding date
11/1/2023
Location
Xpressbees has successfully raised funds through multiple rounds, with the latest being a Series G round. The company has attracted 19 investors, including Teachers’ Venture Growth and Khazanah Nasional.
Keep reading to explore the intricacies of Xpressbees' fundraising journey and the investors backing this innovative platform.
What Is Xpressbees?
Founded in September 2015 by Amitava Saha and Supam Maheshwari, Xpressbees is a logistics company based in Pune, Maharashtra, India. The company specializes in customized express delivery services, offering solutions like last-mile delivery, reverse logistics, and payment collection.
With a workforce of over 10,001 employees, Xpressbees also provides drop shipping, vendor management, cross-border services, and fulfillment services. Their tailored software solutions cater to a wide range of client needs.
For more detailed information, you can visit their Crunchbase profile or their official website.
How Much Funding Has Xpressbees Raised?
- Series A
- Amount Raised: $12.4M
- Date: February 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand service offerings.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: February 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and operational expansion.
- Series D
- Amount Raised: ₹2.3B
- Date: January 2018
- Lead Investors: Alibaba Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand market reach.
- Debt Financing
- Amount Raised: ₹350M
- Date: February 2019
- Lead Investors: InnoVen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To improve cash flow and support operational expenses.
- Series D
- Amount Raised: $10M
- Date: January 2020
- Lead Investors: Alibaba Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand logistics infrastructure and capabilities.
- Series E
- Amount Raised: $110M
- Date: November 2020
- Lead Investors: Gaja Capital, Investcorp, Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance service offerings.
- Series F
- Amount Raised: $300M
- Date: February 2022
- Lead Investors: Blackstone Group, Chrys Capital, TPG Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and invest in technology.
- Secondary Market
- Amount Raised: ₹2B
- Date: August 2022
- Lead Investors: Avendus Wealth Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Amount Raised: $40M
- Date: April 2023
- Lead Investors: Khazanah Nasional
- Valuation at Round: $1.4B
- Motivation Behind the Round: To support strategic growth initiatives and potential acquisitions.
- Series G
- Amount Raised: $80M
- Date: November 2023
- Lead Investors: Teachers’ Venture Growth
- Valuation at Round: $1.4B
- Motivation Behind the Round: To drive further growth and expand service offerings.
Total Amount Raised: $552.4M
Current Valuation: $1.4B
Key Investors
- Teachers’ Venture Growth
- Details: Teachers’ Venture Growth (TVG) is the late-stage venture and growth investment arm of the Ontario Teachers’ Pension Plan. This is their first investment in India through the TVG platform.
- Investment Focus Areas: Technology, late-stage venture, growth equity.
- Notable Investments: Xpressbees.
- Khazanah Nasional
- Details: Khazanah Nasional is the sovereign wealth fund of the Government of Malaysia. It focuses on strategic investments to deliver sustainable economic and societal value.
- Investment Focus Areas: Infrastructure, technology, healthcare.
- Notable Investments: Alibaba, Grab, CIMB Group.
- Blackstone Group
- Details: Blackstone Group is a leading global investment firm that specializes in private equity, real estate, and hedge fund solutions. It manages assets for public and corporate pension funds, academic, cultural, and charitable organizations.
- Investment Focus Areas: Real estate, private equity, hedge funds.
- Notable Investments: Bumble, Oatly, Epidemic Sound.
- TPG Growth
- Details: TPG Growth is the middle market and growth equity investment platform of TPG, a global alternative asset firm. It focuses on investments in rapidly growing companies across various sectors.
- Investment Focus Areas: Healthcare, consumer, technology.
- Notable Investments: Airbnb, Uber, Spotify.
- Alibaba Group
- Details: Alibaba Group is a multinational conglomerate specializing in e-commerce, retail, internet, and technology. It operates various businesses worldwide, including online marketplaces, cloud computing, and digital media.
- Investment Focus Areas: E-commerce, retail, technology.
- Notable Investments: Lazada, Paytm, Snapdeal.
What's Next for Xpressbees?
With the logistics sector on the brink of technological disruption, Xpressbees is poised to capitalize on this opportunity by expanding its service offerings and leveraging advanced technology. The company’s extensive network, covering over 20,000 pin codes in India, positions it well to meet the growing demands of businesses and consumers alike.
Future fundraising opportunities appear promising, especially with the recent $80 million investment from Teachers’ Venture Growth. This influx of capital is likely to be the last before Xpressbees goes public, setting the stage for a significant IPO. However, challenges such as managing increased operational costs and navigating a competitive landscape remain. Effective utilization of new funding will be crucial for driving growth and innovation.
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