Logistics unicorn Xpressbees raised INR 195 crore as a secondary investment from Avendus’ fund called Avendus Future Leaders Fund II.
Xpressbees is a subsidiary of the children’s ecommerce marketplace FirstCry. The logistics startup claims to be present in 3000 Indian cities and to deliver over 1.5 million packages per day. Xpressbees also claims to manage 100 hubs across the country, with a total warehouse capacity of more than 10 lakh square feet. According to Statista, India’s logistics market, which was valued at $250 billion in fiscal year 2021, is expected to grow to $380 billion by 2025, with a CAGR of 10-12%.
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Logistics unicorn Xpressbees raised INR 195 crore as a secondary investment from Avendus’ fund called Avendus Future Leaders Fund II.
Xpressbees is a subsidiary of the children’s ecommerce marketplace FirstCry. The logistics startup claims to be present in 3000 Indian cities and to deliver over 1.5 million packages per day. Xpressbees also claims to manage 100 hubs across the country, with a total warehouse capacity of more than 10 lakh square feet. According to Statista, India’s logistics market, which was valued at $250 billion in fiscal year 2021, is expected to grow to $380 billion by 2025, with a CAGR of 10-12%.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
