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A third-party end-to-end logistics firm named Xpressbees has secured a USD 40 million investment from Malaysia's sovereign wealth fund, Khazanah Nasional Berhad (Khazanah).
Along with Blackstone Growth, TPG Growth, ChrysCapital, Alibaba Group, Elevation Capital, Investcorp, Norwest Venture Partners, and Gaja Capital, Khazanah now joins a select group of the company's top investors. The transaction's financial advisor was Avendus Capital, as per reported by BW Disrupt.
Speaking on the transaction, Amitava Saha, Founder and CEO Xpressbees said, “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.”
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Karan Sharma, MD and Co-head, Digital and Technology Investment Banking, Avendus Capital said, “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.”
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About Xpressbees
The Indian company Xpressbees offers end-to-end supply chain solutions and is the express logistics service provider with the quickest growth. Their B2B Xpress, B2C Xpress, Cross-border, and 3PL(Third Party Logistics) logistics solutions provide an advantage in speed, accuracy, and scalability. They have quickly established themselves as trustworthy logistics partners for the greatest names in e-commerce, health care, food, heavy machinery, finance, and automotive.
