Xpressbees Raises $40 Million Investment From Khazanah Nasional Berhad This investment will be made through a secondary purchase from an early investor in the company
By Teena Jose
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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
