Xpressbees raises 300 million dollars in funding from Blackstone, TPG Growth and ChrysCapital

Xpressbees has raised $300 million in a Series F funding round led by private equity funds Blackstone Growth, TPG Growth and ChrysCapital.

Existing investors, Investcorp and Norwest Venture Partners, also participated in the Series F round. With this round, the total amount of funds raised by Xpressbees exceeds $500 million. Avendus Capital acted as the exclusive financial advisor to Xpressbees on this transaction.

The capital will be used to achieve Xpressbees’ vision to evolve into a full-service logistics organisation, support the business in its next phase of growth, product development, and hiring talent. Xpressbees’ domain expertise and focus on meaningful innovation has helped it rapidly evolve as a trusted logistics partner of India. The brand has progressively built best-in-class technology platforms, an extensive network reach, a seamless last mile management system, and has experienced a near 100% growth in revenue on a year-to-year basis.

Amitava Saha, Founder, and CEO, Xpressbees 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 they will further fuel our efforts in pursuing newer opportunities and will help expand our footprint.”

Founded in 2015, Xpressbees is present across 3000 cities, serving over 20,000 pin codes, and delivering over 1.5 million packages per day. It now has over 100 hubs across India, 10 lakh sqft. plus warehouse capacity, and operates across 52 airports in the country.