Xpressbees has raised $110 Mn in a new financing round. The startups Series E financing round was led by private equity firms Investcorp, Norwest Venture Partners and Gaja Capital. The new round valued the startup at more than $400 Mn.
Xpressbees offers logistics services such as last-mile delivery, reverse logistics, payment collection, drop shipping, vendor management, cross-border services, fulfilment services and tailored software solutions.
“We have been truly impressed by their strong customer centricity and capital efficiency which has resulted in exceptional feedback from top players in the ecommerce sector. I am delighted to see the impact we are making in the logistics ecosystem in the country,” said Niren Shah, managing director and head of Norwest Venture Partners in India, in a statement.