Bahrain’s Investcorp invests in India’s Xpressbees

Bahrain’s investment company, Investcorp, has invested in Xpressbees, an end-to-end e-commerce logistics platform in India.

The investment was made as part of a Series E funding with participation from a consortium of local and global investors.

Xpressbees offers services including first and last-mile delivery, reverse logistics, real-time tracking, and multiple payment collection and processing options. Founded in 2015, Xpressbees is in the process of transforming itself into a fully-fledged supply chain company with Express Cargo, 3PL and Cross Border Logistics.

“Xpressbees is in our view at the strategic sweet spot of the consumption shift to digital and e-commerce, and the significant growth potential of the US $200bn+ logistics industry in India,” said Varun Laul, Private Equity, Investcorp India.

“Investcorp strongly believes in the digital transformation of the Indian consumer and enterprises, and hence we are excited to partner with Amitava and the Xpressbees’ management team in their journey to build a technology-first market defining business.”

“I am delighted to see the impact we are making in the logistics ecosystem in the country. We will use this investment for further automating our hubs and sort centres, increased investments in technology and to expand our delivery footprint to cover the entire country,” said Amitava Saha, CEO, Xpressbees.

Xpressbees has a presence across more than 2,000 towns and cities in India and has strong traction with more than 1,000 customers across several industries, including e-commerce, pharmaceutical, fast-moving consumer goods, retail, manufacturing, electronics and consumer durables.

The company handles over two million shipments daily across the country on its network.

Investcorp acquired Viz Branz, an instant cereal and coffee company earlier this month.

Read: Bahrain’s Investcorp acquires cereal and coffee company Viz Branz