Nikita Peer · · 1 min readIndia’s last mile facilitator Ecom Express confirms $133M from Warburg Pincus
After the ecommerce boom, allied services are picking up big bucks from global private equity funds. The latest one is logistics solutions provider Ecom Express, which confirmed today that it is raising US$133 million from global private equity fund Warburg Pincus.
Earlier this year, Delhivery raised US$85 million from Tiger Global, Multiples Alternate Asset Management, Nexus Venture Partners, and Times Internet Ltd.
Logistics is a highly fragmented industry in India. Three-year-old Ecom Express claims to service more than 210 cities through its army of 8,000 employees and 320 delivery centers.
With fresh funding, Ecom Express will expand its delivery footprint, upgrade technology, and deploy advanced parcel sortation systems. It expects to handle about 50 million packages this year and cover more than 1,500 towns and cities over the next few years.
Ecom Express raised US$17 million from Peepul Capital last year. In 2013, it had raised an undisclosed amount in angel funding led by early stage venture capital fund Oliphans Capital.
Editing by Charlie Custer
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