Xpressbees raises nearly $12.5 million from SAIF Partners, IDG Ventures
Busybees Logistics Solutions, which works under “Xpressbees” brand, has raised $12.5 million (almost Rs 85.43 crore) subsidizing from existing financial investors, including SAIF Partners, IDG Ventures India, NEA, Vertex Ventures, and Valiant Capital.
Xpressbees raises nearly $12.5 million from SAIF Partners, IDG Ventures
Brooded by the founding team of Ratan Tata-upheld FirstCry.com, Xpressbees began operations in September a year ago. Xpressbees is an e-business logistics pro organization, giving solid and quick logistics answers for its accomplices. It conveys more than 60,000 shipments day by day.
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“Xpressbees has quickly extended in the last couple of months… We plan to utilize the funds (Series A) to basically put resources into reinforcing our technology and procedures further increasing present expectations on service levels. Today, we work the biggest same-day delivery and 24-hour delivery network in the nation covering around 100 cities,” Xpressbees organizer and CEO Amitava Saha said
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“We have seen the company group at a gigantic pace. We have a decent leadership team with a creative methodology. I am certain Xpressbees will be the main player in the logistics space inside of a brief span range,” said Ben Mathias, overseeing executive of Vertex Ventures India, who is in the leading group of Xpressbees.
Xpressbees contends with e-tailing-focused logistics players like Tiger Global-supported Delivery and Warburg Pincus-backed Ecom Express.