Alibaba-backed Xpressbees secures $110m in new funding

Founded in 2015, Xpressbees offers logistics services such as last-mile delivery, cross-border services, and fulfillment services through its extensive network across India. It handles more than 2 million shipments a day, according to the report.

The startup’s CEO Amitava Saha said Xpressbees plans to use US$80 million from the new capital to expand its delivery footprint across India, investing more in technology and further automating its hubs and sorting centers.

To date, the company offers its services across 2,000 towns and cities, working with over 1,000 customers across the ecommerce, health, fast-moving consumer goods, and retail industries, among others.

Xpressbees’ last round of funding was in January this year when it secured US$10 million from its existing backer Alibaba. The Chinese ecommerce giant first invested in the Pune-based startup in 2017, pouring US$35 million into its series D round.

One of the startup’s competitors is the SoftBank-backed Delhivery, a Gurugram-based supply chain service provider. It was recently reported that the logistics unicorn is looking to go public late next year or in early 2022.