Investing
Xpressbees Raises $40 Million Investment From Khazanah Nasional Berhad
Entrepreneur
You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.
Xpressbees, a fastest growing third-party end-to-end logistics provider, has raised a $40 million investment from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. This investment will be made through a secondary purchase from an early investor in the company. Khazanah joins a high-quality set of investors in the company including Blackstone Growth, TPG Growth, ChrysCapital, Alibaba Group, Elevation Capital, Investcorp, Norwest Venture Partners and Gaja Capital. Avendus Capital was the exclusive financial advisor on this transaction.
“There is a huge opportunity for tech led disruption in logistics. We have established a leading brand but are still early in our growth story. We continue on our path to become a dominant end-to-end logistics player and look to leverage any strategic opportunities. Khazanah’s disciplined long-term investment approach makes the Malaysian sovereign wealth fund a perfect partner for us in this journey,” said Amitava Saha, founder and CEO, Xpressbees.
The company’s scalable asset-light approach coupled with indigenous tech-led precision execution has helped serve some of India’s most prominent e-commerce businesses with best-in-class service-level agreements (SLAs). The company has continued to expand and strengthen its express delivery, B2B express, warehousing and cross-border business to provide a complete logistics fulfillment platform, according to an official statement by the company.
“We are proud to partner with Xpressbees once again as they chart a phenomenal path to reinvent logistics through an India first approach. While the market has seen strong macro headwinds, they have continued to gain market share and have demonstrated significantly superior business economics. We believe Xpressbees is well-poised to build one of the largest tech-led businesses as they ride on the massive e-commerce market opportunity,” said Karan Sharma, MD and co-head, Digital and Technology Investment Banking, Avendus Capital
Read the full article here
-
Side Hustles7 days ago
3 Steps You Can’t Miss When Growing Your Business
-
Investing7 days ago
How I Transformed My Business by Letting Go of Low-Value Tasks
-
Make Money7 days ago
Here’s the Typical American’s Income at Every Age. How Do You Compare?
-
Investing7 days ago
Germany stocks lower at close of trade; DAX down 0.65% By Investing.com
-
Side Hustles5 days ago
How Your Body Language Can Help Win a Disagreement
-
Passive Income5 days ago
Are You Running Your Business, or Is Your Business Running You?
-
Investing5 days ago
7 Marketing Strategies to Help Your Startup Grow and Scale
-
Side Hustles6 days ago
How to Develop Empowered Leaders Within Your Own Team