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India-based end-to-end logistics company, ExpressBees has secured Rs 195 crore in a fresh round of funding led by Avendus Future Leaders Fund.
Xpressbees’ strong domain expertise and constant focus on meaningful innovation have helped it rapidly evolve as one of the most trusted logistics partners in India.
Speaking on the investment in XpressBees, Ritesh Chandra, Managing Partner of Avendus Future Leaders Fund said, “In the last few years, the logistics sector has witnessed a revolutionary change and has become a vital enabler for facilitating commerce in India.”
“Xpressbees, with its asset-light franchise model coupled with cutting-edge technology deployment across all its functions, is all set to occupy a leading position in the logistics landscape in India. Avendus is truly excited to partner with them in this journey of value creation,” Chandra added.
Commenting on the funding, Amitava Saha, Founder of XpressBees said, “We are excited to partner with Avendus at this stage as we continue our journey to become a leading end-to-end logistics player. We have built a well-respected and valuable brand and believe this announcement is a great testament to the opportunity that exists in the logistics space.”
Avendus is at the forefront of working with emerging leaders that are creating great businesses in India. Avendus Future Leaders Fund I & II invests in companies in the digital, consumption, and financial services segments.
The first series of the fund was launched in 2019 and has invested in Lenskart, Delhivery, VerSe Innovation, Bikaji Foods, National Stock Exchange, Ujjivan Small Finance Bank, Licious, SBI General Insurance, and now Xpressbees.
The second installment of this fund was launched in 2021 and currently manages an AUM of INR 1500 crore. It has invested in Lenskart, SBI General Insurance, Licious, Juspay, Zeta, and Xpressbees.