Samreen Ahmad · · 2 min readAlibaba-backed Xpressbees zooms ahead with $80m round
Photo credit: Xpressbees
The Ontario Teachers’ Pension Plan has pumped US$80 million in Indian logistics firm Xpressbees via its late-stage venture and growth investment arm.
The new round, which marks the Canadian pension fund’s first investment in India, takes Xpressbees’ valuation to US$1.5 billion, a source told Tech in Asia.
Earlier this year, the company raised US$40 million from Khazanah Nasional, Malaysia’s sovereign wealth fund. At the time, it had a pre-money valuation of US$1.2 billion.
Funding details
- Funding amount: $80,000,000
- Lead investor: The Ontario Teachers’ Pension Plan
- Stage: Stage G
- Source
The new investment will support the Xpressbees team’s “future ambitions,” the company said in a statement.
Apart from ecommerce, Xpressbees operates in other sectors such as pharma, healthcare, and manufacturing. It also runs a subsidiary, NimbusPost, which provides shipping aggregation services for SMEs and direct-to-consumer brands.
More details
Xpressbees (BusyBee)→
|
||
| Stage | Amount (US$) | Investors |
| Series A | $5M | |
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
