Xpressbees raises $300 Million in Funding Round

Xpressbees has raised $300 million in its recent funding round led by private equity funds Blackstone Growth, TPG Growth and ChrysCapital. The company entered the Unicorn club with a market valuation of $1.2 billion.

The CEO of Xpressbees, Amitava Saha has said that the company is on track to achieve Rs 1,800 crore in revenue and has already EBITDA positive. He also said that the revenue of the company has grown 70% over the last fiscal year and does not need larger primary funds. 

The company is planning to use the raised capital to achieve its vision to evolve into a full-service logistics organisation, support the business in its next phase of growth, product development and hiring new talent.

The CEO also said that the company is excited to welcome its new partners Blackstone Growth, TPG Growth, and ChrysCapital. Xpressbees hopes for new opportunities to expand its footprint with the vast network and operational expertise of its new partners.

Xpressbees was founded in 2015 by Amitava Saha. It is a logistic service provider and claims to provide the fastest deliveries. Xpressbees works in 3,000 cities and delivers more than 1.5 million packages daily. It has over 100 hubs in India.